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Aurora finance committee approves bond-abatement and property tax levy, forwards 2026 budget after debate
Summary
The Finance Committee unanimously approved a bond levy abatement and a 2025 property tax levy and voted to forward the proposed 2026 budget to Committee of the Whole after detailed debate over staffing cuts, new revenue assumptions and downtown arts funding.
The Aurora Finance Committee on Nov. 20 voted unanimously to abate most general-obligation bond levies for 2025 and approved the citys 2025 property tax levy, then voted 5-0 to forward the proposed 2026 budget to the Committee of the Whole for further review.
Stacy Peterson, the citys chief financial officer, told aldermen the abatement item (25-0874) would remove $14,905,998.86 from property-tax bills for 2025 while leaving approximately $12,000,691.92 on the levy for debt service. On the property-tax levy (25-0875), Peterson said the levy consists of three main componentscity operations (about $47 million), pension costs and debt serviceand that the debt-service levy rose to cover ongoing public-facility projects.
Peterson estimated the citys tax rate would rise by about 0.0603 (final rates are set by county assessors in spring) and described the assumptions behind the projections, including a projected 7.89% blended increase in equalized assessed valuation (EAV) and a $3 million late change…
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