QuickStory: City of Geneva Holds Tax Levy to .44% Increase
The impact on a $300,000 would be $20—and only if the city's Equalized Assessed Value doesn't go down.
Geneva aldermen voted unanimously Monday night to pass a tax levy that's just .44 percent higher than last year's.
For the owner of a $300,000, that translates to less than a $20 increase in the city's portion of the property tax bill—and that's only if the city's Equalized Assessed Value doesn't go down.
The .44 percent increase in the levy "represents exclusively the new growth," Mayor Kevin Burns said. "In my opinion, (it is the) most conservative approach of the options available."
City staff members had recommended seeking the maximum levy increase: 3 percent based on the Consumer Price Index, as allowed this year under tax-cap legislation, plus the .44 percent EAV represented by new development.
The decision to hold the levy in line was accomplished by polling and conversations with City Council members and coming up with a consensus of opinion, Burns said.
Last year, aldermen ran a sort of end-around, voting against the levy recommendation in a deadlocked vote twice, with Mayor Kevin Burns casting the tie votes. They held a special City Council meeting Dec. 12, 2011, following the Committee of the Whole meeting, and approved the lower levy amount of $4,597,063—holding the line on the number of dollars the city would levy year over year.
That's basically what the City Council did again Monday night, approving a levy of $4,616,851—less than $20,000 more than the previous year's levy.
On Monday night, the council also voted to approve the levies for its various special services areas. Officials said all of the levies stayed about the same as last year's, with the exception of the Fisher Farms Special Services Area No. 16 in the amount of $154,000. The homeowners association in that neighborhood asked for the higher dollar amount to pay for specific improvements and maintenance.