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Kankakee finance officials tell council proposed levy will lower city property tax rate; recommend levy to full council
Summary
Comptroller and budget committee members told the Kankakee City Council the proposed tax levy and recent pension obligation bonds will reduce the city's property tax rate in 2025, and the committee recommended the levy to the full council.
Comptroller Rogers told the city's budget committee that a total equalized assessed valuation (EAV) of $25,000,000 will let Kankakee collect more revenue at a lower rate, and that the combination of higher property values and recent pension obligation bonds will produce a 0.36% reduction in the city's property tax rate for 2025.
The committee recommended the tax levy as presented to the full City Council. The recommendation came during the Budget Committee report presented January 21, 2025, which also included a monthly financial review and a presentation on…
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