Homeowners in Woodstock are set to receive the largest property tax cut in 30 years, thanks to a city council decision to reduce the millage rate nearly in half from 1995 levels.
The tax cut, which will take effect when bills are sent out at the end of the year, is expected to save homeowners between $30 to $50 on their tax bills, depending on the value of their homes. Increased business revenue in Woodstock has enabled this significant reduction, according to city officials.
“This is the lowest tax rate we’ve had in at least three decades, if not much longer,” said Mayor Michael Caldwell…