City taxes going up; your bill going down
Add comment November 18th, 2008
The notice — advertisement, actually — in Monday’s paper said the city of Rockford is raising 2008 property taxes 4.83 percent. How can this be, I wondered. Mayor Larry Morrissey promised to lower the city’s property taxes. We took the capital improvements program off the property tax and put it on a specially-crafted one percent sales tax. So, as bonds to old property-tax funded street referendums are paid off, those taxes go down until 2017.
Overall, city property taxes are still going up 4.83 percent. However, that doesn’t mean your bill should go up. In fact, the owner of a $100,000 home should see their city property tax bill go down $8 , says Andres Sammul, the city’s finance director.
