Both the municipalities of Lake Forest and Lake Bluff are on track to increase their property tax levies during their respective November council meetings, with Lake Bluff coming for final passage. As a result, residents of both communities face higher property taxes next year.
At its November 17th meeting, the Lake Forest City Council approved a 4.51% levy increase. The City Council also advanced a set of fee increases to begin next year. Those will be finalized at the December 1st meeting.
In a report, Finance Director Katie Skibbe said the increase would amount to about $165 on a $1 million home. The city levies for the Lake Forest Public Library. The city’s portion of the total property tax bill amounts to about 22% and the library is for another 3%.
In neighboring Lake Bluff, the villages portion of a property tax bill is set to rise by 3.3%. The first reading is scheduled for the November 24th meeting and is expected to pass. According to a statement by Village Finance Director Bettina O’Connell, the increase would translate to a $134 increase on an $850,000 home.