Who and how will we pay to fix the city’s streets and regain a decent cash reserve?
Argument for a five-year, 3-mill dedicated property tax levy:
Fixed revenue per year $654,000; revenue five-year total $3,270,000.
Use: Replace the general fund transfer of $562,000 to the M&R fund plus $100,000 for street repair. This results in making the general fund money available for other uses.
Costs the home owners with a $100,000 valuation: Non-seniors: $105 per year; most seniors: $79 per year.
These costs will decline as property values increase over the five-year period.
Result: All residents share the responsibility for maintaining infrastructure.
Argument against a .5 percent earning tax increase levy.
Revenue per year: $2,000,000 or more per year; revenue five year total $10,000,000 or more.
Cost: Earner families with a $60,000 taxable household income: $300 per year.
Result: The cost of maintaining infrastructure will fall on working families and a significant portion of the residents will escape that responsibility.
The suggestion that we can stick it to non-resident earners is a violation of the original Tea Party motto of taxation without representation and is an anti-growth concept. The ultimate question is which levy is most likely to be approved by the voters. Call or email city hall with your comments: 937-382-5458 or [email protected]