City tax hike planned
If you thought approval of higher taxes for the schools and a new jail were the end of it, guess again. Here comes the city of Rockford with a proposal for a property tax increase.
At the City Council meeting on Dec. 2, City fathers discuss to outline their plan for a 6.7 percent boost in your property taxes. The meeting will be at 6 p.m. in the City Council chambers in City Hall.
In 2001, the city levied $31,890,657 in corporate and special purpose property taxes. For this year, it proposes to levy $33,954,084. Thats an increase of 6.47 percent, according to Finance Director Andres Sammul.
Taxes for debt service and public building commission leases in 2001 amounted to $5,960, 491. Estimated taxes for this purpose to be levied this year total $6,459,796. Sammul said thats an increase of 8.3 percent from last year.
Total taxes levied last year were $37,851,148. Under the new proposal, the city would levy $40,413,880, or 6.771 percent more.