Rockford property tax levy remains flat for eighth consecutive year
ROCKFORD — The City of Rockford’s proposed 2020 property tax levy to fund 2021 operations remains flat for the eighth consecutive year that the city has either reduced or kept its levy flat.
Rockford’s Finance and Personnel Committee, as well as the full city council, will need to vote on and approve the 2020 tax levy before Dec. 29. Officials estimate the reduced levy will also result in a reduction in its property tax rate.
“We’ve worked diligently since I took office in 2017 to reduce the property tax burden on our property owners while still delivering value in the programs and services we provide,” Mayor Tom McNamara. “Now more than ever, it is incredibly important that we are good stewards of our tax dollars.”
Rockford property owners pay taxes to 11 taxing authorities. Rockford Public School District 205 represents about 52% of the total bill, followed by the City of Rockford at 22%.
Because the levy remains flat, Rockford is not requesting $2.14 million that could otherwise be received under tax-cap laws. Local property values continue to increase because of strong residential sales. The cit-wide assessed value is projected to increase 6.3%.