Oglesby ups levy, tax rate to go down, a little

Taxpayers may see higher bills from increased property values

Oglesby City Hall — Monday, the Oglesby City Council adopted a $1.6 million tax levy, which is a shade under the 5% increase that would require the city to host a Truth in Taxation hearing. For taxpayers, that means a half-cent reduction in the tax rate. (Derek Barichello)

December 03, 2024 at 3:29 pm CST

Oglesby’s tax rate is going down – a little – but whether taxpayers will actually pay less remains to be seen.

Monday, the Oglesby City Council adopted a $1.6 million tax levy, which is a shade under the 5% increase that would require the city to host a Truth in Taxation hearing. For taxpayers, that means a half-cent reduction in the tax rate.

Mayor Jason Curran said the municipal rate is projected to slide from 21.4 cents to just less than 21 cents.

“It’s a small amount less,” Curran said, “but it is a lower tax rate. That’s the good news and I want to focus on that.”

Will that mean Oglesby homeowners will write a smaller check to La Salle County? Not necessarily. Home values are likely to increase, which could offset the reduction in tax rate.