ALTON - The city's 2009 property tax levy is nearly 5 percent more than last year's, primarily to better cover pension fund obligations.
The proposed levy, which the Madison County Clerk's Office will finalize this spring - along with the resulting tax rate - is $5,495,814.
The 2008 levy was $5,275,809.
The 2009 levy has $1,066,838 more than this year's levy for generating money for its deficient Police and Fire pension funds. Last year's proposed levy had $1,154,428 for the Police fund and $1,114,620 for the Fire pension fund; this year's levy provides $1,666,443 for each fund.
Click here to read the full story from The Telegraph.