The City’s property tax rate reached a record 44-year low if the Geneva City Council approved a tax rate decrease in December

While property value in Geneva is rising, the 2024 tax levy (which is for taxes paid in 2025) shows the tax rate for all property in the City limits will drop from 0.515313 to 0.477896, or a decrease of 7.26%.

What does this mean for homeowners? The tax rate decrease will translate into a savings of $53.13 for the owner of a $450,000 home on the City portion of a property tax bill.

The City continues to demonstrate strong fiscal stewardship while providing high-quality public services. The new levy amount, which was approved by the City Council 16, created the lowest tax rate on record, with City data going back to 1980.

For more information about Geneva’s budget and financial reports, visit the City’s website.