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The proposed property tax levy and projected assessed value would yield a property tax rate of <br /> $1.66303 per$100 of assessed value. This would represent a slight reduction in the property tax <br /> rate versus the prior year property tax rate of$1.69080 per$100 of assessed value. <br /> Of note, as the tax levy presented for approval defines the dollars to be raised in property tax <br /> revenue, the final property tax rate will be dependent upon the final assessed value, which is not <br /> yet determined. The final assessed value will be determined upon completion of the County <br /> Assessor's valuation process, and approval/certification by the State of Illinois. <br /> This tax levy and tax abatements will be used by County Officials to calculate the tax extensions <br /> to appear on property tax bills issued to property owners in calendar year 2023 for property tax <br /> due in calendar year 2023. <br /> POTENTIAL OBJECTION: <br /> There are no known objections to this ordinance request. <br /> INPUT FROM OTHER SOURCES: <br /> No input from other sources. <br /> STAFF REFERENCES: <br /> Scot Wrighton, City Manager <br /> Gregg D.Zientara, City Treasurer&Director of Finance <br /> BUDGET/TIME IMPLICATIONS: <br /> Upon adoption of the City property tax levy and tax abatement ordinance(s), the City Clerk will file <br /> a certified copy of all ordinances with the Macon County Clerk. <br />