23:52
It was comprised of a 270.5 million favorable revenue variance, and a favorable expense variance of 60.7 million. The favorable revenue variance is driven primarily by county sales tax, property tax, and cigarette tax receipts higher than forecasted.
37:35
That's the highest point in the last couple of years of our debt service levy on the property tax. So that's how we set our goal of not increasing property taxes to fund the police station.
2:37:37
And I just think we should keep that in mind. You know, it is very expensive to run a city. And in order to keep that property tax levy low comparatively to our other communities, we need economic activity.
1:34:10
And uh just purely on the finance side, we're thinking providing uh budget oversight, long-term financial planning oversight on that and also oversight when it comes to revenue and levy, the property tax levy, expenditure management, and particularly as it relates to facility…
1:12:23
Intergovernmental agreement on property tax refunds for new residential construction between the and among the city of Quincy, Illinois, and of Scallion, Illinois, Quincy Community unit school district number 172, Quincy Park District, John Witt Community College, and Quincy…
25:18
But once the development is complete, we're estimating that it would be fully stabilized and have a fully assessed year and maybe probably tax year 32, 2032, it's estimated at 20,000 dollars in a assessed value.
26:25
Yeah, can you provide a little bit more context of, I think the thing that triggered this process was investment of 50% more than the assessed value requires the special use permit.
10:00
A period of time, and that ownership transition to private ownership through kind of clerical issues through the little accounting and the property tax process.
1:07:47
And in the paper this morning, it's said about the data centers getting these text incentives. Okay, I don't know. To build there, they get the text incentives and then our property taxes are going up because somebody has to pay for the incentives that they're given.
6:58
So this is basically Peoria, the rest of the state, which means not Chicago, and then statewide. So you can see that you're more dependent on property tax and you're simply growing slower.
31:17
That is rebating directly to the taxpayer amount of their property taxes. It's unlimited value to us because the village portion of the total tax bill is only about 12%.