The Waterloo City Council on Monday night set a Truth in Taxation public hearing date for its proposed tax levy and approved measures related to the splash pad and water treatment plant projects. 

When a public body’s tax levy request rises above 4.99 percent from the year prior, the state of Illinois requires a Truth in Taxation hearing, allowing taxpayer opinions to be heard by board members before the levy’s approval.

Since that is the case for the City of Waterloo, a public hearing of 7:15 p.m. Monday, Dec. 18, at City Hall has been set. 

Waterloo Collector/Budget Officer Shawn Kennedy explained that the city’s finance committee met recently and decided to “go for the maximum levy” the city can request under the Property Tax Extension Law Limit, which is $1,714,200. 

This proposed tax levy represents an increase of 6.84 percent from the previous year. 

However, Kennedy said the actual average increase per resident would be much less than that due to new property in the city – assuming residents have the same assessed valuation as the year before. 

“I would say the average taxpayer’s going to see less than a 2 percent increase because of new property being added onto the tax roll,” Kennedy said.

Alderman Kyle Buettner said that for a property valued at $350,000, this tax increase would represent an additional $10 from the prior year.

“When you’re talking about going up $10 on average… the library, the municipal band… there’s a lot of organizations that really need that money,” Buettner said. “There’s other ways that we think we can save money for our residents to give it back, with hopefully this new water plant and having better water rates for the foreseeable future, and things like that.”

Regarding the water plant being constructed in Valmeyer, the council approved the granting of electric and gas easements to Ameren Illinois for property located adjacent to East Hunters Ridge and Valmeyer Community Unit School District No. 3 for the plant.

Another action taken Monday night was approval of an intergovernmental agreement between the City of Waterloo and the Waterloo Park District for funding and construction of the splash pad in Zimmer Park off Rogers Street.

Waterloo City Attorney Natalie Steppig said the city worked with the park district to “come up with something that protects everyone and serves the city’s best interest” on the project.

The agreement states that the park district shall use the funds allocated by the city solely and exclusively for labor and materials related to construction of the splash pad project. 

Further, this agreement formally designates Waterloo Director of Public Works Tim Birk as project manager at no cost to the park district.