Urbana council committee took up $13.7 million estimated property tax levy Monday; staff recommend holding city rate at $1.3499

URBANA - Urbana City Council members met as the Committee of the Whole at 7 p.m. Monday, Nov. 2, at the City Building, 400 S. Vine St., to consider forwarding an estimated 2026 property tax levy of $13,666,663 to the full council, according to the agenda and meeting packet. The committee's action was not yet available when this story was updated.

The resolution lists last year's extended levy at $12,053,950. Because the estimate is up 5% or more, Truth in Taxation rules require the city to publish a notice and hold a public hearing, the staff memo says.

Staff recommend keeping the city tax rate at $1.3499 per $100 of equalized assessed value, where it has generally stayed since the 2018 levy. The corporate purposes portion is to be reduced when taxes are extended so the final rate lands at $1.3499. Staff estimate Urbana's preliminary equalized assessed value at $1,012,420,381, up 15.22%.

At that rate, the memo estimates the city portion of the bill at $369 on a $100,000 owner-occupied home and $1,044 on a $250,000 home.

The packet's calendar: council vote on the estimate Nov. 9, a public hearing Nov. 23 and the final levy Dec. 7.

Sources: City of Urbana: Committee of the Whole agenda, Nov. 2, 2026 (PDF); City of Urbana: Committee of the Whole packet, Nov. 2, 2026 (PDF); City of Urbana: meeting page.