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Macomb, IL – Two tax levy options are under consideration by Macomb aldermen. They appear to be leaning toward the one that will bring in the most money.
Business Office Supervisor Vicky Williams presented the two options to aldermen during their November 28 Committee of the Whole meeting.
Option 1 would increase the levy by the amount of money generated by new building growth. It would increase the city's tax rate by 2.2%. Williams said that would add $5.83 to the annual tax bill for the owner of a $90,000 home.
Option 2 would include new building growth revenue as well as the maximum tax levy allowed by tax caps (P-TELL). The inflationary increase allowed by P-TELL this year is 1.5%. This option would increase the city's tax rate by 3.6%, which would add $9.90 to the tax bill on a $90,000 home.
"We have foregone the P-TELL option in the past and it has turned out not to be good practice as that money can never be recaptured," said Sixth Ward Alderman Tim Lobdell.
Aldermen agreed during the committee meeting to recommend Option 2. They are scheduled to hold first reading of the tax levy ordinance during their December 5 meeting. The second and final reading is scheduled for December 19.
The deadline for filing the levy request with the county is December 27.