2024-169 An Ordinance Levying Property Taxes for the City of Decatur, Illinois for the Purpose of Raising Revenue to Meet Certain Necessary Expenses of the City for the Fiscal Year Beginning January 1, 2025, and Ending December 31, 2025 (6% Option)

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Tax abatements in the 2024 Tax Levy are as follows: Debt Issue Abatement$ Abatement amounts payable from 2014 Series GO 1,872,537.50 Water Fund Lake dredging project 2015 Series GO 1,765,625.00 Water Fund Lake dredging project 2016 Series GO 1,741,256.26 Water Fund Lake dredging project 2018 Series GO 1,278,000.00 Water Fund for Lake dredging portion and general fund revenues for new fire station portion 2019 Series GO Refunding 699,208.50 General Fund revenues and PILOT 2019 Series B GO 145,030.00 Building Fund/Equipment Replacement Fund 2020 Series GO Refunding 1,947,220.00 Water Fund for Lake dredging portion and Olde Towne TIF Fund for downtown street scape portion 2022 Series GO 1,825,400.00 Water and Sewer Fund(s) Total Abatements 11,274,277.26 Detailed elements of the 2024 tax levy are as follows, with comparison to the 2023 tax levy. $ (whole) 2024 2023 Change % Change Tax Levy Tax levy Police pension 6,933,920.00 5,924,878.26 1,009,041.74 17.0% Fire pension 5,646,707.00 6,128,510.00 (481,803.00) 7.9% Library 3,222,539.00 3,072,569.70 149,969.30 4.9% Municipal band 70,000.00 70.073.58 (73.58) (0.001%) GO debt service 857,000.00 587,258.45 269,741.55 45.9% General Purpose 0.01 (0.01) - Total Tax Levy 16,730,166.00 15,783,290.00 946,876.00 6.0% Pension fund increases reflect the actuarially determined contribution required to meet future pension liabilities and achieve optimal future funding levels in accordance with Illinois State Statute 40 ILCS 5/4-118 for the Decatur Firefighters Pension Fund and Illinois State Statute 40 ILCS 5/3-125 for the Decatur Police Pension Fund. Decatur Library reflects a 4.9% increase to reflect the budgeted increase required for salaries and a reduction in state tax receipts. GO Debt Service reflects an increase of 45.9%, which signifies the council's intent to allocate certain general fund revenue sources to capital projects and pay down debt.