Salem Lakes passes 2020 tax levy with 9 percent increase

The Salem Lakes Village Board has passed a total 2020 tax levy of $5,394,133.

That figure is an increase of $430,992 or 8.68 percent over 2019.

The levy was passed unanimously at a special meeting on Nov. 21 with Trustees Rod Gandt and Bill Hopkins absent.

The $5,394,133 levy for 2020 includes the Community Library levy. The village does not control the library levy, which increased $5,275 or 1.16 percent. The village set portion of the levy for 2020 is $4,935,630, which increased $425,717 or 9.44 percent over 2019.

The village did have a village wide revaluation this year that resulted in an increase of $177,879,400 in assessed value to $1,461,623,400. Consequently, the mil rate for village property taxpayers will decrease 4.54 percent to $3.69/$1,000 of assessed value. What that means for individual village property owners village tax bill will depend on how much their valuation changed.

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