Amboy OKs property tax levy

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AMBOY - The property tax levy the City Council approved this week is virtually the same as that for fiscal year 2007. The council wants to raise $264,400 - roughly $12,000 more than last year. That means the owner of an $80,000 will pay $280, or $2 less than last year. The decrease is due in part to overall property value increases, including more than $130,000 in commercial growth and more than $500,000 in residential growth. Amboy residents who want to figure out how much their bill will be can follow this formula: (Your house's market value) x (.0035) = the amount you will owe. The result will be only an estimate; the figure may vary after the county assessor determines final property values.