With the impact of the coronavirus putting a financial strain on both residents and local businesses, the City of Geneva will be providing some economic relief.
The City will be suspending the 5% Municipal Utility Tax for water on customers’ monthly utility bills from July 15 through Dec. 14, 2020. The move will result in about a $15 per month savings for the average residential water customer. Businesses, who typically have higher levels of water consumption, will see a greater reduction in their utility bills.
The City also will be waiving renewal license fees for businesses during the current fiscal year, which runs May 1, 2020, to April 30, 2021. Businesses that have paid liquor or other license fees to the City this year will receive a refund. Applications for new licenses effective May 1, 2020, or later will require payment of the requisite fee.
As a non-home rule community, the City is limited in opportunities to provide economic relief. Nonetheless, the Geneva City Council recognized COVID-19 has had a significant impact on its residents and business stakeholders alike.
The action taken by the City Council on June 15 represents approximately $350,000 in unrealized revenue for the City’s 2020-21 fiscal year budget. Based on preliminary estimates and a reduction in budgeted capital project expenditures, the City is positioned to offer the financial relief measures and maintain adequate financial reserves in the General Fund.