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Maywood board advances 2015 real estate tax levy for final vote after public hearing
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Summary
At a Dec. 1 public hearing, Village of Maywood staff recommended a levy that raises the corporate fund by about 3% largely to cover pension actuarial increases; the Board voted to place an ordinance for final approval on Dec. 15.
Mayor Edwenna Perkins and the Village of Maywood Board of Trustees convened a public hearing Dec. 1 to consider the village's proposed 2015 real estate tax levy, during which Finance Director Lanya Satchell said the recommended levy would raise the Corporate Fund by about 3% and include a $268,000 net increase driven mainly by contractual obligations and pension funding needs.
Satchell told the board that the Fire Pension contribution showed an increase of about $600,000 but that recent bond refinancing savings offset a portion of that rise. "The largest increase of about $600,000 in the Fire Pension is being offset by the savings in the refinancing of the bonds," she said. She also said the Recreation Fund would remain unchanged and that the Police Pension actuarial report had not yet been received.
Village Attorney Michael Jurusik cautioned the board that pension levies are governed by actuarial requirements and cannot simply be reduced. He said, "the State would automatically begin recapturing funds from municipalities to meet this requirement," adding that such recapture would be phased in over three years up to full recovery if a municipality remained noncompliant.
Board members pressed staff for additional detail. Satchell said the police actuarial study was delayed by a contractor issue and that the village could temporarily rely on last year's numbers if necessary, with any small catch-up handled next year. Manager Willie Norfleet noted a roughly 13% reduction in the amount owed on village bonds after refinancing, a savings that helps offset pension costs.
Trustee I. Brandon said he would not support any tax increase until board-requested cost-saving measures were submitted. Trustee R. Rivers thanked staff for producing the recommended levy and for prior refinancing work. Trustee M. Rogers urged continued efforts to find efficiencies and said higher wage-index projections provided context for a modest levy: he cited a Social Security wage-index projection of about 5.4% for next year.
Members of the public addressed the board; the clerk's office holds full transcripts of remarks by L. Redmond, G. Clay, L. Cadoree, M. Larry, L. Davis, L. Robinson, J. Ratley and R. Johnson. Mayor Perkins, Manager Norfleet and Trustees Brandon, Dorris and Rogers offered responses during the public-comment period.
The board voted to place an ordinance providing for the 2015 levy on the Dec. 15 regular meeting agenda for final action. Trustee A. Dorris moved to place the ordinance on the agenda, Trustee R. Rivers seconded; the motion carried with four ayes (Trustees H. Yarbrough Sr., A. Dorris, M. Rogers and R. Rivers) and two nays (Mayor Perkins and Trustee I. Brandon); Trustee M. Lightford was absent. A subsequent motion to close the hearing passed and the public hearing was adjourned at 8:50 p.m.
The matter returns to the Board on Dec. 15 for final consideration. The Village previously announced an I‑290 reconstruction update meeting on Dec. 7 and the annual seniors Christmas party on Dec. 16.