Politics
River North Council Sets Property Tax Rate at 1.245 Mills for 2027
The July 7 vote sets the rate for the coming fiscal year and will change annual bills for property owners across all River North neighborhoods.
How we reported this
The River North City Council approved the fiscal year 2027 operating budget on July 7, 2026, by an 8-1 vote. The ordinance fixes the property tax levy at 1.245 mills, up from 1.21 mills in the prior year, and directs the added revenue to street and water infrastructure accounts.
The action follows the public works department's March 2026 condition report, which identified 47 miles of city streets rated fair or poor and 18 water mains installed before 1970 that require replacement within five years.
Changes to Resident Tax Bills and Service Delivery
Under the new rate, a River North home assessed at $250,000 will owe an extra $87.50 in city property taxes for the 2027 tax year that begins January 1. Owners of commercial parcels on North Clark Street and West Ontario Street will see proportional increases applied to their January and July installments.
The budget document allocates the resulting $1.52 million in new revenue to two line items: $1.1 million for asphalt resurfacing contracts and $420,000 for water main replacement on the 300 and 400 blocks of West Huron Street. These segments serve 1,240 residential accounts and 38 small businesses.
Implementation Schedule and Payment Mechanics
City engineers will advertise the first resurfacing bids in September 2026, with work on the targeted blocks scheduled between April and October 2027. The water main project on Huron Street is listed for design completion by December 2026 and construction start in spring 2027.
The county treasurer will mail revised tax statements in November 2026 that reflect the new levy; payments remain due in two installments on the standard March 1 and September 1 deadlines.