The Twin Lakes Village Board approved a 2020 tax levy with a less than 1 percent increase.
The 2020 levy of $3,776,011 is an increase of $24,881 or .66 percent over 2019.
However, despite the slight increase in total levy the tax rate will decrease a little to $4.75/$1,000 of assessed value. The village’s assessed value increased about $12 million or about 2 percent for 2020.
What your situation with village taxes will be depends on what may have happened to your property’s assessed value. If it did not change, your village taxes will be about the same. If it increased, your village taxes will increase. If your assessed value decreased, your village taxes will be less.
The above levy figure represents both the village levy, which the board controls, and the Community Library tax, which is not set by the village.
