Naperville considering property tax rate hike
Naperville is proposing a 2-cent hike in its property tax rate.
Councilmen say it is merely a cushion in case the economy worsens and will be back at even by the time property tax bills go out.
The proposed rate is 73.67 cents per $100 of equalized assessed value, but councilmen say in the spring they plan to abate it back down to its currently level of 71.67 cents.
Councilmen will vote on the levy next month and determine a final rate in April.
The city council held a public hearing Tuesday night to let residents voice their opinion on the proposed rate. The few who spoke urged it to cut spending.
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