Here’s what the Sycamore library portion could look like on your 2024 property tax bill

SYCAMORE – A Sycamore Public Library official told Sycamore City Council recently the library would not seek to increase its property tax levy in 2024.

The library’s proposed levy, if approved, would collect about 5% more in revenue than 2023 however, documents show.

Sycamore City Council didn’t take a vote on property tax levies Nov. 18, though discussion continues for municipal budgets, which need to be approved before the year’s end. City Manager Michael Hall said the topic was only on the budget for consideration purposes as he and his counterpart at the library presented to the City Council on their levy recommendations.

While the Sycamore Public Library board of trustees is largely responsible for how the library sets its property tax levy, Sycamore City Council still has to approve of their decision. During the City Council meeting on Nov. 18, Sycamore Public Library Executive Director Kim Halsey said the library isn’t seeking any more money from taxpayers.

“We are not asking to increase the levy, as the budget only increased by a nominal amount,” Halsey said.

[ Increase or decrease taxpayer bills? Sycamore city debates 2024 property tax levy ]

The library is requesting to increase its property tax levy from $1.52 million to $1.59 million, a 5% increase, according to city documents for the meeting, however.

Halsey did not respond to multiple requests from Shaw Local seeking the library’s property tax rate, which is used to calculate levy amounts. The rate was not included in city or library budget documents.

Halsey and Hall gave presentations regarding the library and the city’s 2024 property tax levies. Neither said they were suggesting an increase of any kind. City documents for the Nov. 18 meeting show the library, if the proposed tax levy is approved, would collect $76,125 more in property tax revenue than last year.

In her presentation, Halsey said the library is making more money than previously through changes to the way it manages its funds.

“As far as our income is concerned, we’ve switched our bank accounts. We received an increase in our interest on our operating money market and one of our other accounts, so you’ll see a significant increase in that interest line.”

While income is expected to grow modestly, Halsey said the library’s expenses are projected to increase by 3 to 4%.

The Sycamore City Council is expected to vote on both property tax levies Dec. 2.

“We are just asking to keep the levy the same, and not pass on an increase to the taxpayers,” Halsey said.