Lower property values could drop tax rate
Updated: October 9, 2012
URBANA -- The city council will talk about property tax rates at its meeting Monday night. The city comptroller estimates the value of existing properties will drop an average of 1.5%.
But new construction could bring a 1% increase, meaning current homeowners could pay an average of a .5% less in property taxes than last year. Members will decide on a rate in November.
But new construction could bring a 1% increase, meaning current homeowners could pay an average of a .5% less in property taxes than last year. Members will decide on a rate in November.
