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On December 8, 2020, the Village Board approved an ordinance establishing the Village’s 2020 property tax levy. The approved levy is $21,865,790, roughly a $17,000 decrease from 2019.
What are property taxes?A property tax is levied on all real property in Northbrook. Several entities including the Village, Park District, Library, and elementary and high school districts receive a portion of the property tax. Property taxes are payable in two installments, one in March and one in September. While the Cook County Assessor's Office determines a property assessment for taxing purposes, the Cook County Treasurer collects the property tax.
How much of my property taxes go to the Village?For a common 2019 property tax bill in Northbrook, 10% goes to the Village of Northbrook. Depending on the school district, 64% goes to the elementary and high schools. Cook County and the Northbrook Park District both receive about 6% while the Metropolitan Water Reclamation District receives 5% and the Northbrook Library receives 4%. The remaining 5% goes to Oakton Community College and other jurisdictions including the North West Mosquito Abatement District, Cook County Forest Preserve District, and Northfield Township.
What is the Illinois Truth in Taxation law?The Illinois Truth in Taxation law requires a taxing body to calculate its estimated levy increase at least 20 days prior to adoption. If the calculated increase is expected to exceed 105% of the previous year’s levy, the taxing body is required to publish specific notices and conduct a public hearing prior to adoption of the levy Ordinance. This year, the Village’s levy does not exceed 105% of last year’s levy.
How will this affect my tax bill?As a result of this 2020 property tax levy, the average home in Northbrook will see virtually no change to the Village’s portion of their property tax bill.