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Galesburg Outlines Tentative Tax Levy
The City of Galesburg is essentially holding the line on the amount of money it's seeking from residents in the form of property tax dollars.

The Galesburg City Council recently approved a tentative tax levy for the current tax year, payable next year, that will not require a Truth in Taxation hearing, because while the levy amount is increasing, it's under the 5% threshold.

City Finance Director Gloria Osborn says the levy rate reflects a decline in money asked for in one city fund, but means significant increases for other funds.

"The general fund is going to see $326,000 less in dollars than what we are receiving this year. The pension funds are going to receive about $483,000 more than what they are receiving this year. The library is going to receive about $25,000 more - about a 2% increase."

City officials said several months ago that because of a number of concerns, not the least of which was the state budget, the city would have to increase its pension contributions.

The total levy amount proposed, about $7.7 million dollars, is in total, about 2.5% more than was received for 2008.

Osborn says that amounts to less than a penny per one-hundred-dollars of assessed value.

The city's budget is largely made up of sources of revenue other than property tax dollars.
11 10 09 by Newsroom
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