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At its Nov. 12 meeting, the Lake County Board unanimously approved a $573.2 million balanced budget for Fiscal Year (FY) 2020. Under the budget, Lake County's tax levy will be flat, which means that there will be no increase in the dollar amount between the FY2020 property tax levy and the FY2019 property tax levy. As a result, homeowners will see a slight reduction next year in the Lake County government portion of their property tax bill. This is the first time in at least 20 years that the County has had a flat tax levy.
Under Illinois law, the Board could have chosen to raise the 2019 levy of $162.6 million to account for new property growth in Lake County, and to increase the levy up to the amount of the federal Consumer Price Index, but it chose to do neither in order to ease the burden on Lake County property owners.