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City Council Considers Balanced Budget
with No Property Tax Increase for 2024
The City Council heard a draft of the proposed 2024 budget,
which includes no increase in property taxes and a balanced 2024 budget with general fund expenses of $214.2 million.
“Under my administration, this is the seventh year we are proposing no property tax increases for our residents,” says Mayor McNamara. “It also marks the 11th year in a row with no property tax increase. I’m proud that we are living within our means, while still providing outstanding service to our residents.”
Important items included in the budget:
- No increase in property taxes.
- $1.5 million annual contribution to Rockford Promise from casino revenue. This supports the Rockford Promise NIU Scholarship, which provides students who live in Rockford, attend Rockford Public Schools and earn a 3.0 GPA with the opportunity to earn a degree at NIU tuition-free.
- An increase of $4.2 million in state-mandated pension contributions, bringing the City’s total pension contribution to $30.9 million.
- Continued investment in technology to improve services without adding additional staff.
- Increased our investment in public safety.
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