Geneva expected to approve $4.7M levy
GENEVA – Geneva city officials will consider a $4.7 million request for the 2013 general city property tax levy, a 2 percent or $92,000 increase over last year’s levy of $4.6 million.
Aldermen acting as the Committee of the Whole approved the estimated levy last month. Aldermen are expected to take final action on the levy at the City Council meeting 7 p.m. Monday at city hall, 22 S. First St., Geneva.
The proposed increase would cost a house with a market value of $250,000 an additional $35, officials said. A house with a market value of $350,000 would have an increase of nearly $50 in taxes, and a house valued a $450,000 would have an increase of nearly $65 in taxes, officials said.
The property tax levy is a portion of the city’s overall operating expenses of $16.3 million, records show. Geneva gets almost $12 million in revenue from other sources, such as state income tax, sales tax, permits, court and parking fines and other fees.
The city’s general operating levy will decrease almost 3 percent to reduce the levy for liability and ambulance to increase the police pension levy, officials said.
The levy for retirement is proposed to increase nearly 15 percent to meet the requirements.