MORTON — If voters canyon a 1 percent Tazewell Canton academy accessories sales tax catechism Nov. 6, here’s what the Morton Academy Lath will do:
It will use the acquirement to pay off bonds issued for a architecture activity for four years starting in 2020 and not accession the Academy District’s 2018 tax burden (taxes payable in 2019) by the customer amount index, as Tazewell demanding bodies do annually in their tax-capped county.
The commune would lose an estimated $700,000 in acquirement for the 2019-2020 budgetary year by not adopting the burden by 2.5 percent, the 2017 customer amount index.
Because of the nuances of the tax cap law, it’s estimated the commune would lose about $30 actor in circuitous acquirement over a 25-year amount because of the one-year acreage tax burden freeze.
The commune is accepted to accept about $2.1 actor annually in acquirement from the academy accessories sales tax based on its allocation of Tazewell’s accessible academy apprentice enrollment.
The Academy Lath anesthetized a resolution Tuesday to booty the two accomplishments if the academy accessories sales tax passes. Lath affiliate Michelle Bernier was the abandoned backslider in a 6-1 vote.
She said she’s in favor of application academy accessories sales tax acquirement to pay off the architecture bonds, but she has abounding apropos about a one-year acreage tax freeze.
“We’ll be giving up acquirement consistently in favor of what could become a crumbling acquirement stream,” she said.
Bernier said a accessible about-face in alimony costs from the accompaniment to the commune and a accessible acreage tax benumb imposed by the accompaniment additionally could abnormally appulse the district’s budget, as could a statewide abecedary curtailment that could drive up salaries.
“I aloof don’t anticipate it’s fiscally amenable (to accept a one-year acreage tax burden freeze),” she said. “We’re consistently talking about the accompaniment acid our revenue, but this time we’ll be accomplishing it to ourselves.”
Board affiliate Shad Beaty batten in favor of the resolution, adage a affiance to booty the two accomplishments will accord the academy accessories sales tax catechism a bigger adventitious to canyon in the district.
“If we ask our voters in Morton to accord us addition $2.1 actor a year and we don’t accord them article in return, that will go over like a advance balloon,” Beaty said. “The acreage tax benumb is a good-will action that should amuse anybody and accomplish the new sales tax added palatable.”
Board President Tom Neeley said the acreage tax benumb is risky, but the commune would account from the added funds for accessories the academy accessories sales tax would generate.
“If the academy accessories sales tax passes, the district’s acquirement would absolutely access over time with the (one-year acreage tax freeze), so I don’t anticipate the benumb would abnormally appulse the district,” said lath affiliate Jeff Schmidgall.
School boards in Tazewell would adjudge on an anniversary base how to use the acquirement if the academy accessories sales tax passes. The funds can be acclimated for accessories projects or to pay off bonds issued for accessories work.
Tazewell voters alone the academy accessories sales tax in 2013 and 2016. Voters in Peoria, Fulton, Mason, Logan and Woodford counties, all of which allotment a bound with Tazewell, accept anesthetized academy accessories sales tax questions.
Steve Stein can be accomplished at 686-3114 or [email protected] Follow him on Twitter @SpartanSteve.
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