The Village of Pingree Grove announced on Nov. 21 that a public hearing will be held on Monday, December 2 at 7:00 pm to discuss and approve the proposed property tax levy increase for 2024.
The upcoming hearing is significant for residents as it addresses changes in the village’s property tax levy, which directly affects local taxpayers. The village aims to clarify terminology and reporting requirements that may cause confusion among residents reviewing the proposed changes.
According to the announcement, Illinois State Statute requires taxing districts to show both “property taxes levied”—the amount requested by the taxing body—and “property taxes extended,” which is the actual revenue received after billing and collection based on assessed property values. Because final assessed values are not known when establishing a levy, an estimated amount is requested each year. The actual amount collected is then determined by several factors, including the Property Tax Extension Limitation Law (PTELL), which caps how much non-home rule bodies like Pingree Grove can collect.
The notice explains that while the proposed 2024 tax levy of $1,720,894.21 appears to be a 68.06% increase over last year’s $1,023,951.79, this figure compares estimated revenue requested for 2024 with actual revenue received in 2023. In reality, due to PTELL limitations, the expected increase in actual revenue received—the extended levy—is about $31,163 or 3.4%, bringing the total to $758,539 for corporate property taxes in 2024.
The village also notes that its portion of a typical property tax bill is between two and three percent—lower than most comparable municipalities—which translates to approximately $154.13 annually for a home valued at $250,000. As new properties are constructed and added to the tax base under state law formulas, this growth helps suppress individual taxpayer rates because increases are distributed across more properties.
Officials emphasize that levying more than what will actually be extended ensures newly built properties are included in future collections and supports continued rate suppression as growth continues.
