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Sturtevant trustees tonight will hear a formal presentation of the 2017 village budget as well as formally approve transferring land into Mount Pleasant.
Village Administrator/Clerk Mary Cole will give a broad overview of the budget as a whole and point out areas of interest like projected tax revenues now that the village’s highly successful tax incremental financing district has closed. Specifically, how the TIF closure will impact property taxes, which are expected to go down by as much as 20 percent.
Board members will consider raising the 2017 levy by 20 percent over the 2016 levy of $2.9 million. According to state statute, trustees can increase the levy in this way because that amount is half of the TIF district’s value in relation to the village’s value – around $594,000. Because the village’s total value will rise to $554.6 million and the businesses within the TIF will start paying property taxes to the village instead of to the TIF for infrastructure like sewer, water and roads, tax rates will still go down for every property owner in Sturtevant, including businesses.
Primarily comprised of the Renaissance Business Park, TIF #3 was established in 1994 and closed this summer, nearly six years early. At the time, those 390 acres were valued at around $4 million, and Sturtevant borrowed $19 million to get the TIF established. That same land now has a value of $222 million.
“This is the most important policy decision you will make,” Cole often tells board members in the weeks leading up to her formal presentation.
Other items residents may want to hear include hiring additional police officers, scheduled road maintenance and construction, and village parks.
In other news, trustees will approve transferring a square of land on the north side of Highway 20 into Mount Pleasant.
As part of the cooperative boundary agreement between Mount Pleasant and Sturtevant when Mount Pleasant incorporated from a town to a village in 2003, Sturtevant agreed to transfer the land that now includes Grand Appliance, Wheaton Franciscan and the large Johnson-Diversey warehouse building.
The transfer goes fully into effect January 1, 2017. Those properties will immediately begin generating tax revenue for Mount Pleasant.
The Sturtevant board meeting begins at 6 p.m. at Village Hall, 2801 89th Street. Call (262) 886-7200.