Geneva’s 2024 budget proposal targets flat tax rate despite rising costs

City Manager Amie Hendrix has proposed a 2024 budget for Geneva aiming to keep tax rates steady, responding to the City Council’s call for minimal tax fluctuation.

The newly presented budget proposes general spending of $19.38 million, nudging the tax rate slightly from $17.16 per assessed thousand to $17.25 for 2024, a sub-1% increase.

This change also affects the property tax levy, set at approximately $8.42 million, up from $8.38 million in 2023 and staying below Geneva’s state tax cap for the upcoming year.

This escalation in the general fund, also less than 1%, signifies that a home with the city’s median value assessment of $117,000 would have an estimated tax of around $2,000, contingent on the budget’s adoption.

Furthermore, Hendrix emphasized that 2024’s water and sewer rates are projected to remain unchanged, bringing the city’s total expenditure, inclusive of water and sewer budgets, to roughly $28.7 million.