City of Rockford issued the following announcement on Apr. 17.
The City of Rockford’s property tax rate for the new tax year (2020) is 2.79, a decrease of 4.3 percent from the previous tax year in 2019. When he was elected in 2017, Mayor McNamara made it a priority to reduce tax rates—the rate has dropped 16 percent since he’s been in office, going from 3.31 to its current rate of 2.79.
The City of Rockford’s proposed 2020 property tax levy to fund 2021 operations remains flat from 2019 and represents the eighth consecutive year that the City has either reduced or kept its levy flat. A City of Rockford property owner pays taxes to 11 taxing authorities. RPS 205 is about 52 percent of the total bill, followed by the City of Rockford at 22 percent. Property values continue to increase due to strong residential sales and the city-wide assessed value is projected to increase 6.3 percent this year.
Original source can be found here.
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