Finance Director Julian Prendi | Skokie Community Foundation
Finance Director Julian Prendi | Skokie Community Foundation
The Village of Skokie board received a report on the 2022 property tax levy for the village at its Dec. 5 meeting.
Assistant village manager Nick Wyatt presented the annual village tax levy report to the board. The 2022 tax levy will be a request for $15.4 million. The levy is an annual collection of tax payments that help fund the village for the year.
The finance director, Julian Prendi, gave a presentation on the specifics of the levy.
“Just a brief note on inflation, because we are operating in a frozen levy environment, essentially levying the same $15.4 million that would be levied in 1990,” Prendi said. “It's important to note how that would have changed had we not done that, had the village kept up with inflation. This 2022 tax year levy, that is still $15.4 million, would actually be $28.5 million today. That's an additional $13 million in property taxes that we would have to collect, which would translate just for the residential properties to $293 on average per year. Incidentally, a residential property in the village pays about $367 to the village annually in property taxes. Over this 32-year period we have been able to save about $213 million in property taxes from Skokie taxpayers.”
The board uploaded the livestream of its meeting to the village’s YouTube channel.
Prendi gave a brief summary of the village’s Equalized Assessed Value (EAV) since 1990, showing how it has effectively increased almost 150% even though it has dropped in the last year or so, possibly because of efforts to control pandemic inflation. The village is not seeing significant tax savings from this effort however, as the request by taxing bodies controls the tax amounts more. Bodies like the library and park district are completely reliant on this levy, as opposed to the village.
Back in 1990, the village promised a tax freeze for the levy for five years. The village has now continued that tax freeze for 32 consecutive years as it will request that same amount from 1990 this year of $15,456,695. The requests, which can be increased based on the lower of either the Consumer Price Index (CPI) or 5% each year from the previous year, go to the county assessor at the end of the calendar year, who distributes the payments, or extensions, in the spring of the following year.
The board will meet again for the last time in 2022 Dec. 19 at 7:30 p.m. at the council chambers on 5127 Oakton St.
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