By Claudia Loucks
Geneseo Current

Geneseo City Council members recently approved a property tax levy of $1,570,414 for fiscal year 2023. The tax levy ordinance of $1,570,414 includes $530,414 for the police pension fund.

The new tax levy is an increase of 4.99 percent over last year’s $1, 495,725 and the estimated new tax rate is $1.0382, which equates to an additional $74,689 total. The 2022 tax rate was $1.0121.

City Administrator Brandon Maeglin said the increase “will allow the City to keep pace with our approved 2023 budgeted expenditures and planned projects, while still maintaining a healthy reserve.”

“These tax dollars cover street maintenance, street lighting, police protection/dispatch services, and other general fund expenditures,” he added. “City revenues have been consistent this last year and staff continues to look at ways to operate more efficiently and be good stewards of the tax payer’s dollar. Although the City has the ability to collect taxes to cover city bond payments for capital projects, we will continue to abate taxing the citizens of Geneseo for these amounts due to our current financial position in fiscal year 2023.”

When asked to provide an example of the increase, Maeglin explained the owner of a home with a market value of $150,000 assessed at $50,000 would see the city portion of property taxes increase $13.05 from last year.