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City of Crystal Lake Property Tax Rate to Decrease 5.21%

By vote of the Mayor and City Council on December 20, 2016

Post Date:01/03/2017 7:40 AM

 

Crystal Lake – On December 20, 2016, the Crystal Lake City Council adopted an Ordinance that will decrease the City’s property tax rate by at least 5.21%.  This decrease could be even greater depending on changes in the Equalized Assessed Valuation in the City which will be finalized in March, 2017.

The amount of money estimated to be raised by the proposed 2016 tax levy is $16,374,197. The proposed tax levy, which funds the Fire Rescue Department and required pension obligations, will ensure that the tax levy attributable to the City remains one of the lowest tax rates in the area.  The proposed property tax also includes the Crystal Lake Library’s property tax levy.     

Despite the economic challenges, the City will continue to provide residents with high-quality police and fire protection, water and wastewater treatment services, brush pick-up and drop-off, street maintenance, and other City services, including the Three Oaks Recreation Area.

The tax levy ordinance reflects the emphasis the City places on its role as financial steward.  The Government Finance Officers Association (GFOA) voted to award the City of Crystal Lake’s budget document the Distinguished Budget Presentation Award for the 2016/2017 fiscal year.  This award is the highest form of recognition in governmental budgeting.  The City again received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association.  This is the twenty-sixth year in a row the City has received this award.  These recognitions are a direct reflection of the financial strength and management of the City of Crystal Lake.

Contact:          George Koczwara, Director of Finance

Phone:             (815) 459-2020                      

 

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