WOODSTOCK — The mayor and City Council will conduct the second of three public hearings Monday regarding the 2013 millage rate, with a vote expected Aug. 26 to adopt a projected rate of the same 7.889 mills city taxpayers now pay.
Chief Financial Officer Robert Porche said that property tax makes up about 33 percent, or a third of the total general fund revenue of $16.85 million.
“We budgeted conservatively and the digest came in higher; it’s moved down a little bit but we’re still good,” Porche said Friday.
In fiscal 2012-13, the 7.889 millage rate brought about $5.5 million in revenue into the general fund, according to Porche, and the millage rate is expected to stay the same for fiscal 2013-14.
“We budgeted a maintaining of the millage rate,” Porche said. “To date I have not gotten any indication from the public, from council that the millage rate is going in any other direction.”