The City of DeKalb is close to setting its property tax levy for the year. It is requesting the same amount as last year. I read in the paper that 2nd Ward Alderman Tom Teresinski is saying we will pay the same amount in property taxes as last year because even though the rate will go up to fulfill the levy, assessments are lower. Well, that might work in theory but, even with some 6% drop in my assessment last year, my property taxes paid to the city were about $30 more for tax year 2010 than they were for 2008, the final year of the infamous “we’re keeping the rate at .60 again, you lucky ducks.”

The theory may work in fact for Mr. Teresinski himself, whose assessment was lowered 19%. But not everyone can get that deal, and the ones who can’t are no doubt the folks who can afford the rate hikes the least. Read the rest of this entry