Oglesby’s tax base is projected to grow 9% – and that could mean a little rate relief for taxpayers.

Monday, Commissioner Austin Cullinan told the Oglesby City Council that projections are in ahead of a December vote on taxation. While the numbers are preliminary, he said, there may be good news for city residents.

“It’s looking like there’s going to be a reduction in the tax rate,” Cullinan said.

The city’s tax base is projected to climb from $76.5 million to $83.2 million. In consultation with the city treasurer, the council proposes a nearly 1-cent drop in the tax rate.

That would enable the city to bring in an estimated $81,000 more in revenue while still extending some rate relief to taxpayers.

Cullinan said city officials attribute the growth in the tax base to an increase in the valuation of residential properties – La Salle County had, last year, broadly increased home valuations – and cautioned that none of the projections are final.

The projection applies only to the municipal tax rate. Taxpayers could open their tax bills next spring and still find the bottom line has swelled, either because their home values rose and/or because other taxing bodies (school districts, for example) raised rates and offset any savings by the city.