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Trustees approve $40,000 budget adjustment to cover delinquent taxes on Anderson property
Summary
CFO told trustees a $40,000 budget adjustment is needed to cover delinquent property taxes for the Village's recently acquired Anderson property at 5100 Rio Grand Boulevard; trustees approved the one‑time transfer from the real property fund.
Trustees approved Resolution 2024‑9‑01 D1 to add $40,000 to Fund 380's miscellaneous expenses to pay delinquent property taxes on the Village's recently purchased property at 5100 Rio Grand Boulevard (the Anderson property).
CFO Tammy Sila said the tax bill came out after the sale closed and that the Village had received a seller credit for taxes covering January through the purchase date; the added appropriation covers the remaining bills and any potential penalties. Staff emphasized the payment is one‑time because governmental entities do not pay property taxes going forward.
Trustees asked whether the bill covered prior months or future months and discussed seller credits and the timing of tax billing; staff confirmed the closing was in September and the tax bill reflected the full year with credit offsets.
The resolution passed on roll call with support from the trustees present.
Quote: "Once these taxes are paid because we are a government entity we won't have this again — this is a one‑time fee," Tammy Sila said.
What happens next: Staff will finalize amounts, pay the bills from Fund 380 and report back with exact totals.
