Higher property values likely to increase most tax bills in Streator

The Streator City Council will vote on its tax levy Wednesday, after reaching a consensus last week.

The council agreed to request a levy of roughly $4.5 million, including taxes levied by the library. That is 4.99% more than the previous year’s levy, avoiding a truth-in-taxation hearing at 5%.

The property tax rate is expected to decrease by about 6%, meaning residents whose property value remains the same, could see a deduction in their portion of Streator’s tax bill. Property values, however, have increased in value by about 11.2% in Streator’s taxing district, meaning most properties have been assessed at a higher value. Many of those individuals will pay more on their tax bill since the value of their property has increased at a higher rate.

The council considered a lower levy, but council members believed it was important to fully fund the levy requests of the library. The levy also meets the police and fire actuarial funding recommendations.

The bump up from initial talks of a 3% increase in the levy to a 4.99% levy provides $56,700 more into the general fund.

The city will vote Wednesday on approving its 2024 budget with a planned $306,061 deficit. The deficit is in part because of delayed ambulance billing revenues that were anticipated when the city established its ambulance service last year. The city will use built up reserve funds from federal COVID-19 related funds to cover the planned shortfall, said City Manager David Plyman.

Council member Matt McMullen asked Plyman hypothetically to present what cuts it would take to balance the budget. He said the city would have to cut $10,000 from its property/land acquisition line item, $25,000 for a fire equipment rescue tool, $56,500 for a new police squad car, $15,000 for police cameras, $50,000 for park improvements, $45,000 for Mariner Park equipment and $100,561 for machinery equipment replacement in the public works department. McMullen wasn’t proposing any of these cuts necessarily, but said he wanted to see what it would look like hypothetically to better explain to the public what the budget was paying for.

Plyman has told the council the deficit is not a structural deficit, but instead a one-time maneuver with money set aside to handle the costs of establishing the ambulance service.

The meeting is scheduled for 7 p.m. Wednesday at City Hall, 204 S. Bloomington St.