City of Lincoln prepares for 2007 financial year          

[DEC. 26, 2006]  LINCOLN -- City of Lincoln aldermen approved the fiscal year tax levy. The fiscal year runs May 1 2006 to Ap. 30,2007.

$1,335,200.00 General and special purpose tax levy amount
$176,299.79 G.O. bond issue
$19,800.00 Firemen’s pension non-capped levy amount
___________

$1,531,299.79 Total tax levy (without G.O. bonds)

Past levy’s:
2003 - $1,250,100.04
2004 - $1,214,917.36
2005 - $1,291,300.18

All governing taxing bodies must submit their levy amounts to the Logan County Clerk, Sally Litterly before the close of the calendar year. The county collects property taxes and then distributes the taxes that are collected to the various taxing bodies.

The taxing bodies that a property supports can be seen on a property tax bill. Categories may include public resources: schools, library, recreation, municipality, township, county and so on.

The city can levy for general corporate (city offices), police protection, fire protection, streets and alleys (road and bridge), audit, EMA, forestry, liability insurance, IMRF – social security, public benefits, crossing guards, debt service, sewer operations and maintenance, police pension and firemen’s pension. It includes participation and planning for economic development.

[Jan Youngquist]