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City of Crystal Lake to Reduce Property Tax Rate by 5.11%

Post Date:11/08/2018 9:50 AM

 FOR IMMEDIATE RELEASE

Contact:          George Koczwara, Director of Finance

Phone:             (815) 459-2020            Fax: (815) 459-3780

 

City of Crystal Lake to Reduce Property Tax Rate by 5.11%

 

Crystal Lake – On December 18, 2018, the Crystal Lake City Council will review a proposed property tax levy ordinance that reduces the City’s property tax rate by 5.11% from the previous year.

The amount of money estimated to be raised by the proposed 2018 tax levy is $17,071,035. The proposed tax levy will ensure that the tax levy attributable to the City remains one of the lowest tax rates in the area. 

The 2018 property tax levy will ensure that the City continues to provide residents with high-quality police and fire protection, water and wastewater treatment services, brush pick-up and drop-off, street maintenance, and other City services, including the Three Oaks Recreation Area.

Because of a culture of spending control throughout the organization, when comparing surrounding communities that provide like services, Crystal Lake’s portion of a property owner’s tax bill is among the lowest.  As a result, only approximately 10% of the property tax bill is attributable to municipal services provided by the City of Crystal Lake.

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The tax levy ordinance reflects the emphasis the City places on its role as financial steward.  The Government Finance Officers Association (GFOA) voted to award the City of Crystal Lake’s budget document the Distinguished Budget Presentation Award for the 2017/2018 fiscal year.  This award is the highest form of recognition in governmental budgeting.  The City again received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association.  This is the twenty-eighth year in a row the City has received this award.  These recognitions are a direct reflection of the financial strength and management of the City of Crystal Lake.

 

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