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Village Vision News

Property tax levy to be set by Oct. 15

Thursday, September 27, 2012

Trustees are expected to set the Village’s 2012 property tax levy by Oct. 15. To that end, Board discussions on the subject were scheduled to begin Sept. 17, but other than a reminder of the due date from Village Treasurer Rhonda Stewart, no discussion was held. The Board members plan to explore options and to determine if the Village will continue to have the property tax levy increase by 4.9 percent, the same rate increase that went into effect for each of the past 14 years .

“Regardless of what [percentage] the Board sets the property tax levy, residents will see little impact on their individual property tax bill,” said Stewart, who researched, analyzed and presented trustees with options. The 4.9 percent increase would allow the Village to continue a small growth in the property tax revenue source.

Forsyth’s main source of revenue comes from sales tax revenue tracked at 81 percent of the total revenue in the general fund; the Village’s property tax revenue is 9 percent of this same fund.

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