R.I. Council May Finalize 2020 Budget & Taxes
It will probably cost more to live in Rock Island next year, but the increase will be smaller than initially proposed. Monday night, the city council will consider raising the property tax rate 3.9 per cent, compared to the recommendation from city staff to raise it 6.7 per cent.
During the first reading of next year's budget and tax levy last week, aldermen voted to make up the difference by using some of the city's reserve funds.
Under the first rate, property taxes owed to Rock Island for a 100,000 dollar home would have gone up 48 dollars per year, but with the lower rate, the increase will be reduced to about 28 dollars.
Staff are also recommending 3 per cent increases in the charges for treating waste water and storm water.
Local governments and other taxing bodies in Illinois are required to submit their proposed tax levies to their counties by the end of December each year.