Crystal Lake to increase property tax
Taxes will be going up in Crystal Lake next year, after the city council voted 5-1 in favor of the increase.
The levy will increase to 0.8%, which should bring in $16.3m. According to Crystal Lake’s finance director, George Koczwara, the levy translates to about a $6.25 increase per year on a home worth $200,000.
Much of the money raised from the new tax will go to help fund the city’s pension plans for its city employees, including firefighters and police. Koczwara said that Crystal Lake is a home-rule city, meaning its own citizens govern it, and the increase will put it on par with cities that are not run this way. Crystal Lake will tie increases to new growth plus the inflation rate. This year, the inflation rate for purposes of capping the tax is 0.8%.
Aaron Shepley, the city’s mayor, said Crystal Lake is obligated to fund employee pension not only because it’s the law, but also because the city made that promise to its workers.
The levy also includes money for the Crystal Lake Public Library, though it is less than the library requested, and less than allotted last year.
Crystal Lake officials might consider creating brochures to mail to residents to explain why they have decided to increase taxes, as it is always a subject that provokes discussion.
The levy will increase to 0.8%, which should bring in $16.3m. According to Crystal Lake’s finance director, George Koczwara, the levy translates to about a $6.25 increase per year on a home worth $200,000.
Much of the money raised from the new tax will go to help fund the city’s pension plans for its city employees, including firefighters and police. Koczwara said that Crystal Lake is a home-rule city, meaning its own citizens govern it, and the increase will put it on par with cities that are not run this way. Crystal Lake will tie increases to new growth plus the inflation rate. This year, the inflation rate for purposes of capping the tax is 0.8%.
Aaron Shepley, the city’s mayor, said Crystal Lake is obligated to fund employee pension not only because it’s the law, but also because the city made that promise to its workers.
The levy also includes money for the Crystal Lake Public Library, though it is less than the library requested, and less than allotted last year.
Crystal Lake officials might consider creating brochures to mail to residents to explain why they have decided to increase taxes, as it is always a subject that provokes discussion.