End of Year Levy Reminders

With levy time approaching, public bodies should be mindful of the applicable deadlines and other legislative requirements impacting levies and other public finance matters.

1. Estimate of Levy: Not less than 20 days before the adoption of the levy, public bodies must estimate the amounts of property taxes to be extended.
2. Public Notice for Applicable Truth in Taxation Hearings: If the estimated levy is more than 105% of the prior tax year’s aggregate extension, public bodies must comply with the notice and hearing requirements of the Truth in Taxation Law. First, if the taxing district maintains a website, it must post the statutory notice of the Truth in Taxation hearing on its website for 30 consecutive days on or near the top of the district’s website, or on a page accessible through a direct link from the homepage. Second, the taxing district must publish the statutory notice of the hearing in their local paper not more than 14 days and not less than 7 days prior to the date of the hearing. The public body can then hold the applicable public hearing.
3. Hold Applicable Public Truth in Taxation Hearing and Adopt Levy: If Truth in Taxation applies, the public body must hold a public hearing of intent to adopt a levy which is more than 105% of the prior year extension, allowing for public comment. Once the public hearing is held, the board can adopt the levy via appropriate resolution and include any certificate of compliance or certificate of inapplicability with Truth in Taxation.
4. File Levy with County Clerk: Once the board approves the levy, the public body must file the levy with the applicable county clerk by the last Tuesday of December, which is December 30^th this year.

For any questions relating to these reminders, please contact your Robbins Schwartz attorneys.

Print this page