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Type:
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Ordinance
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Status:
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Agenda Ready
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On agenda:
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12/2/2025
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Final action:
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Title:
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Ordinance for the Levy and Assessment of Taxes for the Fiscal Year Beginning January 1, 2025, and Ending December 31, 2025 in and for the City of Joliet, Will and Kendall Counties, Illinois
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TO: Mayor and City Council
FROM: Kevin Sing, Director of Finance
SUBJECT:
title
Ordinance for the Levy and Assessment of Taxes for the Fiscal Year Beginning January 1, 2025, and Ending December 31, 2025 in and for the City of Joliet, Will and Kendall Counties, Illinois
end
BACKGROUND:
Property tax revenue accounts for 22% of General Fund revenues. Unlike all other taxes where the City Council sets a rate, property taxes require that we set the amount each year. For the 2025 levy, paid in 2026, we are proposing to levy an amount that is expected to keep the property tax rate the same. Although the rate remains unchanged, additional funding will be sourced from newly built homes and businesses.
We expect that 2025 will be the second consecutive year without a property tax rate increase.
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2024 |
2025 |
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Levy Amount |
Levy Amount |
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Fire Protection |
$6,777,803 |
$6,821,424 |
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Police Protection |
$6,394,517 |
$6,554,380 |
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General Fund |
$4,620,584 |
$4,736,099 |
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Police Pension |
$19,064,277 |
$19,908,546 |
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Fire Pension |
$15,066,521 |
$16,489,054 |
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City Total |
$51,923,702 |
$54,509,502 |
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Library |
$6,837,338 |
$7,177,838 |
CONCLUSION:
The 2025 proposed property tax levy is expected to result in the same or lower tax rate to property owners.
RECOMMENDATION:
recommendation
Based on the above, it is recommended that the Mayor and City Council approve the Ordinance for the Levy and Assessment of Taxes for the Fiscal Year Beginning January 1, 2025, and Ending December 31, 2025 in and for the City of Joliet; including the Joliet Public Library.
end
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