Woodstock City Council made a bold move for its property owners by approving what's been called a historic tax decrease, as reported earlier this week. The Financial year 2026 millage rate, proposed by Woodstock’s Chief Financial Officer Ron Shelby, delivered a surprise twist in the city's fiscal narrative— a 0.55% reduction in maintenance and operations (M&O) taxes. The average homeowner in Woodstock is looking at a property tax bill around $764 for a $368,000 non-homesteaded home or $1,018 for a homesteaded property valued at $493,000, according to the city's announcement.
Shelby compared a 32-year history of the city’s millage rate, highlighting the impressive growth in the 2025 tax digest that surpassed budget estimates. New constructions and exemptions brought about a net value growth of 5.03%, which is noteworthy considering the initial projection was just half of that for FY 26. On top of this financial feat, Woodstock is also juggling the debt service for its voter-approved parks bond, increasing the rate from .454 to .50 mills, as necessitated by the bond issuance back in 2024. This adjustment means an average of $75 for the $375,000 non-homesteaded home or $100 for a $500,000 homesteaded home, "Mayor Michael Caldwell told the city news.
This latest development reflects Woodstock's broader economic success in recent years, with downtown development and business revenues more than doubling within five years. Caldwell attributes this progress to the city's sound financial management and strategic investments, which have bolstered Woodstock’s credit rating while also allowing for significant tax reductions. "At a time where City Council has made the largest investments in infrastructure, parks and trails, police, fire, and just about everything that matters to the citizens of this city, they have also lowered taxes to the lowest point that we have seen in decades," Caldwell remarked on the city's website.
