The City’s property tax rate is poised to reach a record 44-year low if the Geneva City Council approves a tax rate decrease in December.

The 2024 tax levy, which is for property taxes paid in 2025, was discussed at the Nov. 18 Committee of the Whole meeting. While property value in Geneva is rising, the proposed levy shows the tax rate for all property in the City limits will drop from .515313 to .477896, or a decrease of 7.26%.

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

The City continues to demonstrate strong fiscal stewardship while providing high-quality public services. The new levy amount, if approved by the City Council Monday, Dec. 16, would create 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.