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As Geneva's EAV Continues to Shrink, Will Alderman Hold Line on Levy?
A year ago, the Geneva City Council voted to "freeze" the tax levy. This year, the recommendation is to take the full 3 percent increase as allowed by the tax cap. The School District earlier this week sought 1.5 percent.
There are always a lot of questions regarding a tax levy, but maybe the one that's on the top of Geneva residents' minds is whether the City Council will take a stand this year to keep it flat. A year ago, in a split vote, aldermen decided to hold the line on the tax levy, which essentially limits the amount the city can collect from property taxes. The entire process is convoluted and butt-backwards, because local government units have to set the levy amount before they know what the tax assessments are going to be. That means, as a strategy for the taxing entity, it's better to guess high in case the estimates don't come in as expected. As Tim Moran pointed out earlier in the week, a taxing body can levy a trillion dollars if it wanted …
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Jack
12:39 pm on Saturday, November 17, 2012
Please let us all know, Bob, exactly how we taxpayers can responsibly "go on strike", because I think we are ready for just that. We've recently been on the receiving end of that sort of credible threat from our Teachers' Union--maybe it's time we used the same pressure against those who presume to take our money (again) for needs that do not exist--and likely will not exist. In any case, … more ›