Elgin finalizes budget

Tax rate tweaked, up from last year

City Council finalized Elgin’s budget for fiscal year 2026-27 last week and adopted a property tax rate slightly lower than what was considered earlier in the budget process.

City leaders approved the budget Sept. 22, built around a tax rate of 67 cents per $100 valuation, down 1 cent from the previously considered rate but up from last year’s amount of nearly 62 cents. The rate includes about 56 cents for maintenance and operations, with the remainder going toward the city’s interest and sinking fund, which covers debt payments.