Last chance to weigh in on Wellington’s property tax rate.
The village has managed to gather some online feedback on next year’s spending plan, though no more than a couple people have showed up at hearings and workshops regarding how their tax money is spent.
The rate is expected to remain the same: $2.47 for every $1,000 of taxable property value. That’s what the council approved two weeks ago. Tuesday night will be final adoption.
The council earlier this summer had preliminarily set the rate at $2.50, a 3-cent bump. At the time, council members wanted the extra cushion just in case analysis and discussion showed Wellington needed the extra money. Village staff had proposed leaving the rate steady and prepared a budget based on that.
Keeping the rate steady at $2.47 still brings in $773,000 more than the current fiscal year.
The village’s spending plan comes in at $74.5 million, the same as the current year.
The proposed budget includes the following increases: $300,000 for pedestrian paths and roadwork, $462,800 for improvements to South Shore Boulevard, $3.1 million for the water treatment plant and $1.2 million for the waste water treatment plant.
It also sets aside $2.4 million in emergency reserves.
Under the proposed rate, the owner of a $250,000 home with a $50,000 homestead exemption would pay $494 in taxes next year.