Thursday, Aug 21, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

AYHSMB - Gems sale still not final - Quincy, IL News - QuincyJournal.com
I wonder if the new owners are from around here? Possibly related to the Oakleys?
gizzard93 - Six Quincy property owners face deadline - Quincy, IL News - QuincyJournal.com
I never understand why the Quincy building inspector never mentions that building that houses Bayview Building supply. It is in worse shape than some of the fix or flatten property's and there are people going in and out every day buying building supplies. It is on 630 n 2nd, go down by the bay and look to the east.
Stupid_Dems - Six Quincy property owners face deadline - Quincy, IL News - QuincyJournal.com
These are "elected officials" not employees. They are not entitled to heath insurance in my thinking based on the hours they work. I do realize they put in more time than the council meeting. But they are still a long way from being full time. Why are city taxpayers being burdened with the cost of their heath care when the county and the school board do not feed at the trough? The total cost for the…
1950Brutus - Strawman: Eric Holder To The Rescue..... - Quincy, IL News - QuincyJournal.com
Is he bringing Oprah with him???
qfingers - Six Quincy property owners face deadline - Quincy, IL News - QuincyJournal.com
And why should this stop? It's all part of their compensation. They spend a lot more time than what you see on TV. For example, if you eliminate the health care you reduce the likelihood of a small business owner wanting to run. Plus it also means most of the council members have the same health insurance as other city employees...which seems like a jolly good idea There are two reasons…

Most Popular

Liberty woman dies in early morning crash

QPS Board approves $89 million Bond Issue Video

Man who burned down Newcomb Hotel arrested again

Adams Co. Divorces for August 16, 2014

Driver in fatal Liberty crash now facing charges Updated

Knapheide Family Wellness Center to open Monday

McCaskill: Governor to pull county cops out of Ferguson

Six Quincy property owners face deadline

City of Quincy proposing flat tax levy

City of Quincy proposing flat tax levy

2 years, 8 months ago by Bob Gough, QuincyJournal.com

Bulk of $5.69 million goes toward police and fire pensions

The City of Quincy plans to hold the line on the tax levy for the second consecutive year.

At Monday’s Quincy City Council meeting, the administration will present aldermen a $5.69 million levy for 2011 taxes. The proposed tax rate of $1.011 per $100 in assessed valuation is slightly lower than 2010’s $1.012.

The EAV for the City of Quincy is estimated at $562 million, an increase from 2010’s EAV of just under $559 million.

$5.69 million levy also includes $50,000 generated from the Special Service Area on properties within the Historic Quincy Business District that helps fund that organization.

The bulk of the levy goes toward the City’s police and fire pensions, although the City will pay less money into the funds than it did last year.

$1.9 million will go into the firefighters’ retirement fund. That’s $108,460 less than was contributed last year. $1.385 million will go into the police retirement fund, a decrease of $219,092 from last year’s contribution.

The City also pays into those levies from the Personal Property Tax Replacement revenue stream, with another $416,020 going into the fire pension and another $288,920 going into the fire pension.

Director of Administrative Services Gary Sparks said a change in the contribution laws allowed the City to pay less into the pension funds, but the city opted to pay more than the minimum contribution allowed by law.

In a letter to the City Council, Mayor John Spring said “…we will be able to meet all of our debt service as well as increase our police and fire pension’s annual contribution above the minimum actuarial required amounts. By doing this, we are not placing additional liability off for future Councils.”

The levy for the library is increasing by $82,914 to $793,804.

For the third consecutive year, no property tax revenue is levied for the City’s general operations. That $27.3 million in funding comes from other taxes and fees imposed by the City and the State of Illinois.


From the Newsroom

Bob Gough on Twitter

Bob Gough 6 hours, 52 minutes ago

RT @tmckernan: Morgan on Pete Rose in HOF: I think he should be in. He's done his time. 25 yrs. That's a long time to punish someone who di…
QuincyJournal on Twitter

QuincyJournal 8 hours, 5 minutes ago

Ferguson police officer was badly beaten before shooting Michael Brown http://t.co/5cuZQWF0Nb
Bob Gough on Twitter

Bob Gough 8 hours, 39 minutes ago

RT @MissouriUpdate: Missouri cop was badly beaten before shooting Michael Brown, says source http://t.co/w21qUgRhLh
QuincyJournal on Twitter

QuincyJournal 9 hours, 9 minutes ago

Gems sale still not final - Price has been agreed to by the two sides, but deal is not done. http://t.co/ZzosQnVDJn