Hearing, adoption of city budget, tax rate set for Sept. 21 Posted in: News The Elgin City Council voted on a resolution to hold a public hearing and adopt the proposed tax rate for next year during their next meeting on September 21.The proposed budget for upcoming fiscal year 2021-22 is based on a maximum proposed tax rate of 5.89977 cents per $100 of property value, which is a reduction of eight percent from the previous year’s tax rate. If property in the city did not have a change of value between last year and this year, the taxes would go down. The average homestead taxable value has risen by about 12%, and the ...PLEASE LOG IN FOR PREMIUM CONTENT. Our website requires visitors to log in to view the best local news. Not yet a subscriber? Subscribe today!