Sycamore City Council Approves $4.09 Million Property Tax Levy

Residents of Sycamore will see an increase in their city portion of property tax bills after the Sycamore City Council voted on December 1 to raise the property tax levy to $4.09 million. This decision maintains the current tax rate, which means homeowners whose properties did not appreciate in value will pay the same amount as last year. However, those whose property values have risen will face higher tax bills.

According to data from Zillow, the average value of a home in Sycamore is now $305,704, reflecting a 4.9% increase over the past year. City Manager Michael Hall had previously presented an option to keep the city’s property tax levy at $3.79 million, consistent with the previous year. Despite this recommendation, the council decided to pursue a different course.

During a meeting on November 17, 3rd Ward Alderman Marvin Barnes argued for maintaining the same tax rate, emphasizing the need for revenue stability. He noted that the city had reduced its property tax rate by 30.4% since 2023, indicating a potential revenue loss if the levy remained static. Barnes stated, “We can’t continue down this path; otherwise, we’re going to be in trouble.”

By keeping the tax rate unchanged, the city guarantees a proportional increase in tax bills for homeowners with appreciating property values. This strategy is projected to yield an additional $304,921 in property tax revenue for the next fiscal year.

The council’s unanimous vote included approval of the Sycamore Public Library’s proposed property tax extension request of $1.7 million, which marks an increase of $177,500 from the previous billing cycle. 4th Ward Alderman David Stouffer praised the efforts of city officials for balancing the budget without raising the property tax rate, expressing gratitude to Hall and his team for their work.

No public comments were made regarding the tax rate during the public hearing in November, nor were there comments from other council members before the vote on December 1. During the November discussion, 2nd Ward Alderman Chuck Stowe expressed support for maintaining the current tax rate, stating, “That will give Michael some more room to do some more budgeting.”

In contrast, 3rd Ward Alderwoman Nancy Copple voiced her belief that the city requires improved community engagement. She suggested that a slight increase in the tax rate might allow for hiring additional personnel to enhance these efforts.

The decision by the Sycamore City Council reflects a balance between maintaining revenue and addressing community needs. As property values continue to rise, the impact of these tax decisions will be closely monitored by residents and city officials alike.