Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Council places 2025–26 tax levy on file, discusses bond abatement and mutual-aid agreement
Summary
Council placed the proposed 2025–26 property tax levy on file (a slight rate decrease tied to higher assessed valuation will still raise approximately $81,000 in revenue). Members also discussed annually abating an existing bond levy and tabled an intergovernmental mutual-aid agreement pending attorney review.
Councilmember Cullinan summarized the city treasurer's proposed levy for 2025–26 and said reappraisals increased assessed valuations. Using the treasurer’s proposed numbers, the city’s levy rate would drop from 2.12336 to 2.04932 while still producing roughly $81,000 additional revenue for 2026, Cullinan said. The council placed the levy on file for future adoption at the next meeting.
A city attorney advised the council that a 2013 refunding bond levy is customarily abated each year and suggested drafting an abatement ordinance for the next meeting so that the county clerk’s records reflect the city’s levy and abatement together. Council agreed that the abatement is typical practice and directed staff to prepare the abatement ordinance for the next meeting.
On an intergovernmental agreement to join the Illinois Public Works Mutual Aid Network for water, sewer and electric support, council members asked for the attorney to review the agreement and for staff to check whether the city had previously participated. A motion to table the mutual-aid agreement until the attorney’s review passed by roll call.
