The city of Streator is looking to ask for $212,000 more in property tax dollars in 2022 than what was received in 2021, but because of the increase in property values within its limits, the tax rate should decrease slightly.

Streator is anticipating 5.19% of growth in taxable property values and will seek a 4.99% increase of what it received last year, avoiding the requirement of a truth-in-taxation hearing at the 5% mark.

Stephen Litko, with Lauterbach and Amen LLC, which handles Streator’s finances, said Thursday asking for an increase to the levy is necessary for Streator not to move backwards, since expenses are expected also to increase with inflation. The levy request should result in a $125,000 increase in the general fund from tax revenue and still decrease the tax rate slightly since property value growth figures to outgain the requested increase to the levy.

A property taxpayer of a $100,000 home that maintains its value over the course of the year should pay about $7.20 less on Streator’s portion of the tax bill.

Additionally, the city will levy more than 100% of the private actuary’s amount for the city’s contribution to police and fire pensions.

The Streator City Council will vote on the tentative tax levy at an upcoming meeting, before finalizing it at a subsequent meeting.