Galesburg residents will see the lowest property tax rate on their bills next year than they have in some time, but the city expects its tax levy to generate more revenue due to increases in equalized assessed value.
Assistant City Manager Cathy St. George said the proposed property tax rate is approximately $2.35 per $100 of equalized assessed value, or EAV, which reflects a property’s taxable value after county assessments and state equalization. That’s a decrease of four cents from the previous year’s rate.
“This is actually the lowest city tax rate since 2008, with the tax rate for the last three years coming in at $2.38, $2.44, and $2.45,” St. George said.
However, with increases in EAV of properties within the city, the amount generated by the levy will rise by 4%. The city’s total levy request is $10,871,732, with the funds collected in 2026.
St. George said a large percentage of the levy revenue supports police and fire pensions, while 18.6% is allocated to the Galesburg Public Library.
The city council considered the property tax levy ordinance on first reading Monday. The ordinance will come up for a vote at the next meeting.
St. George said the city’s 2026 budget will be available for public inspection beginning Nov. 6 on the city’s website, at the city clerk’s office, and at the public library.
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