Geneva Council Could Approve Lowest Property Tax Rate Since 1980

GENEVA, IL — Geneva residents could experience a record 44-year low property tax rate if City Council approves the decrease in December.

At their Nov. 18 Committee of the Whole meeting, Geneva elected officials discussed the 2024 tax levy, the property taxes that will be paid in 2025. Although property values in Geneva are rising, the proposed levy would cut the tax rate for all properties within city limits by 7.26 percent, from 0.515313 to 0.477896.

The tax slash translates to savings of $53.13 for the owner of a $450,000 house, city officials explained in a news release.

City Council is slated to vote on the agenda item at its Dec. 16 meeting. Should the levy be approved, it would create the lowest tax rate on record, with the city's data dating to 1980, officials said.