Rising property values will mean higher taxes for some residents of Moline, but also additional revenue for the city. Last week the city council approved next year's tax levy on first reading, with final approval expected in two weeks (12/6).
Finance director Kathy Carr says the proposed levy is $15.3 million - an increase of 3.3 per cent over this year due to the same increase, 3.3 per cent, in property values in the city.
"We've had three or four years of declines then last year we saw a very small increase . With these additional dollars we were able to allocate more dollars to our parks and library."
That increase in property values will generate additional revenue of $488,000 - with much of it going to parks and the library.
Another result of rising property values - Carr is proposing no increase in the tax rate for Moline that's currently at $2.07 per $100 property value.
