Woodstock Residents Are Getting a Tax Cut

In a move that bucks the national trend of rising costs, Woodstock property owners will soon see their lowest tax bills in decades, even as the city expands parks, trails, and public safety services.

The Woodstock City Council voted Monday to approve a historic tax decrease for the upcoming fiscal year, reducing the millage rate to 5.065 mills—the lowest in at least 30 years.

What is the Millage Rate?: The millage rate is your property tax rate. Your city, county, and school system all set a millage rate. That combined number becomes your overall property tax rate. One mill represents $1 of tax on every $1,000 of taxable property.

Growth Funds Tax Cut

The tax cut comes amid unexpectedly strong growth in Woodstock’s tax digest, which expanded by 5.03% this year—double what city officials had projected in their budget.

“One mill in Woodstock is worth almost $2.6 million,” Chief Financial Officer Ron Shelby explained during his presentation to the council.

Even with the reduced rate, the city will generate an additional $657,000 in revenue compared to last year, allowing Woodstock to maintain service levels while easing the burden on homeowners.

What This Means for Your Wallet

For the average Woodstock homeowner, the new rate translates to approximately:

• $764 in property taxes on a $368,000 non-homesteaded home
• $1,018 on a $493,000 homesteaded property

The rate does include a small increase for the parks bond approved by voters in 2023, which will fund citywide improvements to parks and trails. The debt service requires 0.50 mills, up slightly from 0.454 mills last year, adding about $75 to $100 to the average homeowner’s annual bill.

Mayor Michael Caldwell said this isn’t merely a tax rollback required by law, but a genuine decrease below what the state calculates as necessary.

The mayor credited the city’s thriving downtown development and business growth for making the tax cut possible. Business revenues have more than doubled in five years, creating a financial cushion that allows for both expanded services and tax relief.

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