Coal City says increase in tax levy offset by gains in property values

The proposed 2026 property tax levy may provide some savings for Coal City homeowners. The levy, presented at the Nov. 4 Village Board meeting, totals $3,181,033, which is just over $153,000 higher than last year.An increase in the village’s expenses prompted the 5% higher levy request, but those higher costs are offset by gains in the assessed value of Coal City properties, village officials said.“Due to the increase in [equalized assessed value], the actual tax rate is expected to slightly decrease by the time the taxes are paid next summer,” Village Administrator Matt Fritz said.The largest single line item in the proposed levy is $673,000 for the police pension fund. That amount is a 6.5 percent increase from the 2025 levy. The next largest items are $346,800 for liability insurance, $230,000 for Social Security, and $143,900 for workers’ compensation insurance.Other expenses listed for the proposed levy are for police protection, audits, parks and street lighting.“Despite the incr