Village of Sturtevant residents will get higher tax bills in 2018, but totals will still average more than 13 percent below 2016 levels.
Paying off the tax incremental financing (TIF) district that is primarily comprised of the Renaissance Business Park is continuing to pay dividends for property owners; taxes in 2018 are still more than 13 percent lower than in 2016, a story in The Journal Times reads.
Village property owners saw an 18 percent tax decrease in 2017 because the businesses within the TIF now pay property taxes to the village instead of to the TIF for infrastructure like sewer, water and roads, so tax rates are down for every property owner in Sturtevant, including businesses.
Still, Sturtevant Village Administrator Mary Cole noted in her budget summary that Sturtevant’s total equalized value went down more than $31 million, but because the TIF closed, the increase is only 3 percent, or 22 cents per $1,000 in assessed value, the story continues; from $7.47 to $7.69.
The 2018 budget saves $50,000 in bus service that Cole said she was instructed to eliminate because of a lack of information “over the last two decades.” Additional savings come from debt service reduction, up to $109,000, according to the story.