Politics & Government
Public Hearings for Business District Plan, Tax Levy Tonight
City Council meets tonight at 7 p.m.
Yorkville City Council will hold public hearings on a proposed Downtown Yorkville Business Development District and the 2013 tax levy.
If established, the business development district will include up to a 1 percent retailers’, service, and hotel operators’ occupation taxes. The proposed district includes an area on the north by West Hydraulic Avenue, on the east by Bridge Street (Route 47), on the south by West Van Emmon Street and on the west by the alley approximately 190 feet of Bridge Street, according to city documents.
On the matter of the tax levy the estimated corporate and special purpose levy is $3,650,692, although the final number is expected to be lower, said City Administrator Bart Olson. The estimated $3.6 million figure is 6.1 percent higher than the approved $3.55 million levy passed in 2011.
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The estimated property tax to be levied for debt service and public building commission leases is $1,257,909. Total property taxes estimated for the levy are $4.9 million, a .71 percent reduction in all city property taxes, according to city documents.
Officials speculate the amount paid by each homeowner under the new levy will be lower than the previous year.