At Tuesday night’s meeting, the 220 Board heard a presentation about the tentative 2021 tax levy, which determines how much taxpayer money the district will receive in 2022. Barrington 220 collects property taxes from Cook, Kane, Lake, and McHenry Counties, and property taxes account for approximately 84% of the district’s annual operating revenues.
Each year the district requests a tax levy increase, in order to match the expenditure increases for cost-of-living increases, service and material increases, and other expenditure increases. If approved, the district expects to receive a 1.5% tax increase compared to last year, however it is requesting a 2.5% increase in the event new construction is larger than expected. Based upon projections, excluding bond and interest, the total expected tax revenue for 2021 is $132,396,948.
The next step in the tax levy approval process is a public hearing set for the Dec. 7 Board meeting. The Board is anticipated to approve the tax levy on Dec. 21. You can listen to the full presentation by clicking here.
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