Galesburg Council expected to approve tax levy with rate decrease

Galesburg City Council is expected to approve its 2019 property tax levy at their meeting Monday night.

The administration is proposing a $9.43 million levy which represents a 1.19 percent increase when compared with 2018.

Based on current projections of the Equalized Assessed Value of properties the tax rate for property owners will actually decrease slightly.

That means an $80,000 owner-occupied home would save about $5 a year.

This represents the smallest increase in the tax levy that the city has requested in the last few years.

There were levy increases of about 7.5 percent in 2016 and 3.5 percent in 2017.

Overall the city’s levy has gone up a total of approximately 14.4 percent since 2014, although the tax rate has fallen three straight years.

Levy increases don’t always necessarily mean higher taxes for certain property owners.

The indication from Knox County taxing bodies like the City, the county and District 205 schools is that levy increases this year will largely be covered by higher property values.

The Knox County Board last week approved their tax levy with a bigger levy with a tax rate that is flat with last year.

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