Big Leap In Prop Tax Revenue Coming From Joliet Biz District

JOLIET, Ill. (STMW/WBBM) - Property tax revenue collected from a special downtown business district in southwest suburban Joliet is going up 21 percent next year, but it's not because of a tax rate increase.

The increase is due mainly to the end of a tax incentive for some Harrah's Casino & Hotel property.

The tax rate on property in the City Center special service area is staying the same, said Ken Mihelich, director of management and budget for the city of Joliet.

"All it means is that there's more property coming on the tax rolls," Mihelich said.

There will be a public hearing on the levy for the City Center tax on Dec. 7 during the regular city council meeting, which starts at 6:30 p.m.

The City Center special service area was created in 1996 to create funding for downtown projects and activities. The fund generated $233,000 this year and will go up to $282,000 next year.

The increase is due mainly to the end of a tax credit that had applied to certain Harrah's property built in the enterprise zone that runs through downtown, Mihelich said.

(Source: Sun-Times Media Wire © Chicago Sun-Times 2010. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. WBBM contributed to this report.)