Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Tax Policy topic
No spam. Unsubscribe anytime.
Mayor outlines estimated local and school revenue losses from homestead/owner‑occupancy rollback
Summary
Mayor Jarvis reported estimated revenue losses if homestead and owner‑occupancy exemptions are rolled back: Village losses of $17,693 (homestead) and $14,916.34 (owner occupancy), totaling $32,609.34; schools face larger projected reductions totaling $685,660.
Mayor Bob Jarvis said he and the police chief will attend a county commission meeting Oct. 23 to hear a decision regarding a proposed roll back of homestead and owner‑occupancy exemptions. Jarvis presented the village's estimated revenue impacts: a homestead loss of $17,693.00 and an owner‑occupancy loss of $14,916.34, for a combined village loss of $32,609.34. He said school districts could face substantially higher losses, which he presented as $685,660.00 in total.
Jarvis said the village can "work around" the projected losses but acknowledged that schools will have a harder time absorbing cuts. No formal action was taken by the council at the meeting; Jarvis and the chief planned to attend the county commission meeting the next day.
