Quincy residents give feedback on proposed tax levy increase
A controversial proposed property tax levy increase got its first reading inside Quincy Council Chambers Monday night. It followed a public hearing before council to speak with residents about public concern.
The proposal if passed, would mean an almost 17% increase in property tax for Quincy residents.
Mayor Kyle Moore said, "This is essentially a mandatory property tax increase." That's because of decision making in Springfield.
State leaders passed a law in 2010 requiring all cities to have their police and fire pensions funded by 90% by 2040. It states the city must fund to an Actuarial amount annual.
If not, the state will take away the city's funding and place it into the public safety pensions to make up the difference.
"We have the ability to lower this tax levy if the state comes in at a lower amount," Moore explained. "We cannot levy higher than what was in the truth and tax hearing [Monday night]."
Here's what's next - a second reading will take place next week. A vote could then take place the week of the 18th.