RAEDC Leadership Council presents EAV White Paper to Next Rockford

ROCKFORD, Dec 10 — When you think about selling our region what are some hurdles…property taxes would be high on that list. The creation of the Equalized Assessed Value (EAV) white paper by the RAEDC’s Leadership Council is an ad hoc project that looks to educate, identify and propose solutions for forward strategies on improving property taxes.

Presenting the white paper were Michele Petrie, BMO Harris; Kenneth Crowley, Rockford Township Assessor; Ashley Sarver, Urban Planner with Gary W. Anderson Architects, Conor Brown, Rockford Realtors and Jimsi Kuborn, RAEDC. The 5 person panel presented the working document explaining how property taxes are determined and answered questions from the Next Rockford crowd of about 50 attendees. Many of the questions related to attracting business and how to sell the region to perspective employees as well as businesses looking for a location to do business. By attracting businesses into the region it pulls some of the tax burden off the residents and expands the tax base.

 One of the key message points of the meeting was accurately educating the community about how the tax bill is calculated; which is depicted below. 

EAV Tax Bill
EAV Tax Rate

The initiative was created by the RAEDC’s Leadership Council and spearheaded by Jimsi Kuborn as the staff liaison.  This is a preliminary step in improving the property value/tax situation in our Region. The need for an educated public and a better understanding of the Rockford Region when compared to other areas in Northern Illinois relating to taxes, protested valuation rates and the increase or maintenance of levies.

During the meeting Michele Petrie called on Next Rockford members – young professionals dedicated to impacting Education, Business Expansion and Urban Development – to educate their communities and those around them about property taxes, the processes as well as the solutions.

Download the EAV White Paper (a working document) in its entirety.

To become involved in the initiative contact Jimsi Kuborn at jkuborn@rockfordil.com or call 815-969-4259. 

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