Monday night, the city council held a public hearing and first reading for next year's budget, with final approval possible in two weeks.
Finance Director Annaka Whiting says the new development includes projects downtown, plus The Bend and Rust Belt projects.
"Our EAV, or equalized assessed value, increased significantly from the previous year so we're capitalizing on that growth in the assessed value."
The owner of a 100,000 dollar home will pay 750 dollars to the city next year, two dollars less than this year.
Whiting expects revenue for East Moline next year to surpass spending by 2.2 million dollars, thanks in part to rising corporate and personal tax collections resulting from an improving economy.
Funds from ARPA, the American Rescue Plan Act, have also helped the city this year, paying for security improvements at the police station, plus improvements for the bike trail and water plant.
