Here’s what Sycamore residents might pay on 2022 city property tax bill

Sycamore City Council to vote on proposed property tax levy Dec. 6

SYCAMORE - Sycamore residents have two more chances to weigh in on how much money the city of Sycamore will collect when it comes time to pay their property tax bills in the spring.

The Sycamore City Council is looking to nail down its 2021 tax levy, payable in 2022 when the council meets again throughout December. The first round vote during the council meeting at 7 p.m. Monday at the Sycamore City Center, 308 W. State St.

Under the proposed property tax levy option the council is leaning toward, a Sycamore resident whose home is valued at $200,000 would pay about $428 on the city portion of their 2021 property tax bill, according to city documents.

The city of Sycamore plans to collect about $3.1 million in revenue from property taxes for its 2022 budget, documents show, a 1.53% increase but at no extra cost to the taxpayer if approved.

The council discussed the levy options presented by acting City Manager Maggie Peck during its recent meeting in November. A final vote on the levy is expected Dec. 20.

The are four levy options available to the council. Residents are invited to attend the meetings and weigh in on the options.

According to recent council discussion, the Sycamore City Council is leaning toward a 2021 property tax levy that would lower the levy rate compared to last year, at no additional costs to the taxpayer, but allow for increased revenue once new development is taken into consideration.

The proposed rate also would allow the city to capture any new construction on the tax rolls, Peck said.

“Nothing is set and stone until the year starts,” Peck said, adding that financial plans for property tax levies are based on projected information through the county.

If approved, the city’s tax rate for Sycamore residents would be 0.62, a 2.6% decrease from the 2020 tax rate, documents show.

Other options still on the table include maintaining the 0.64 rate, which would increase the taxpayer contribution to $440.39, about $12 more. Another option would be for the city to not increase the levy, which would result in about $75,000 less in city budgets and save residents about $6.47. The last option available to the Sycamore City Council is to increase the levy rate to 0.63, which would increase the taxpayer portion by $6.






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