Paddock Lake passes 2023 tax levy with 3.6% increase

Paddock Lake has passed a 2023 tax levy that is 3.6 percent higher than 2022.

The total 2023 levy of $1,460,183 was passed unanimously (with Trustee Robert Spencer absent) at a Village Board meeting Wednesday. That amount includes levy for the Community Library, the amount of which is not controlled by the village.

No member of the public spoke at the public hearing on the levy and budgets before the vote.

The tax rate for the village portion of a property bill will be $4/$1,000 of assessed value, down from $4.59/$1,000 last year. However, what the effect will be on your tax bill depends on what changes may have taken place to your property’s assessed value. Total village equalized assessed valuation increased about 14 percent or about $58 million to $364,438,100, according to a worksheet supplied by the village. About $13 million of the increase came from new development and the rest from revaluations, which are now done village-wide every other year, said village administrator Tim Popanda.

This is the second year in a row the village tax rate has decreased.

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