WFHB Bloomington Community Radio
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The City Council voiced support last night for a property tax increase to fund sidewalk repairs.
City Controller Jeff Underwood presented a proposal re-establishing a cumulative capital development fund, along with the property tax increase. The fund is primarily supported by property taxes. Underwood says Mayor Hamilton would like to prioritize the money for sidewalk projects. As for the impact on property owners, Underwood estimates a homeowner with property valued at 50 thousand dollars will see a 20 cent tax increase.
The new tax rate would go into effect in 2019. Along with the tax increase, Underwood says Mayor Hamilton intends to resurrect a program the city used years ago where it partnered with low income homeowners for sidewalk projects. He told council member Allison Chopra a revised version of the partnership program will be presented during the city’s August budget hearings.
Council member Dave Rollo commented to Underwood that the tax increase seemed regressive, and council member Isabel Piedmont Smith noted that even property owners who could afford to install their own sidewalks could use additional resources from the city.
Council member Jim Sims questioned Underwood on a stipulation in the proposal that directed any leftover funds to trail and street maintenance. The council will hold a public hearing and then vote on the tax rate increase on February 21st. If adopted, Underwood says a 30-day remonstrance period kicks in.
According to state statute, the remonstrance and adoption process must be completed by May 1. If adopted, the new tax rate would go into effect in 2019.
