“At the Nov. 15 Board meeting, the Board heard a presentation about the tentative 2022 tax levy, which is the first step in the process to establish a final levy of property taxes to support the district in 2023. Barrington 220 collects property taxes from Kane, Lake, Cook and McHenry Counties, and property taxes account for approximately 81% of the district’s annual operating revenues.
If approved, the district expects to receive a 5.6% tax increase compared to last year, however it is requesting a 6.6% increase in the event new construction is larger than expected. Based upon projections, excluding bond and interest, the total expected tax revenue to be collected in 2023 is $140,318,584.
The next step in the tax levy approval process is a public hearing set for the Dec. 6 Board meeting. The Board is anticipated to approve the final tax levy on Dec. 20.”
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