Friday, December 21, 2018 || By Michael Romain || @maywoodnews
During a regular meeting on Dec. 18, the Maywood Board of Trustees voted 4-1 in favor of approving an estimated 2018 tax levy increase of 4 percent in the village’s corporate fund.
Maywood Mayor Edwenna Perkins and Trustees Henderson Yarbrough, Isiah Brandon and Antonio Sanchez voted in favor of the increase while Trustee Kimyada Wellington voted against the measure. Trustees Melvin Lightford and Ron Rivers were absent.
The 4 percent increase reflects an additional $502,415 in additional tax revenue in the village’s corporate fund over last year. The total 2018 tax levy — the police and fire pension, corporate and recreation funds — was an estimated $20,015,975. The total levy for 2017 was $19,470,830.
Taxes levied to service the village’s debt amount to $2,752,000 — a slight decrease from the $2,754,000 in 2017.
Village staffers had recommended that the board approve a 5 percent levy increase, which they said would help cover a variety of expenses, including automated pay increases for 90 percent of village employees, an increase in medical insurance and benefits and additional money for improvements to the Fred Hampton Aquatic Center, among other funding priorities.
Village staffers said that the 5 percent tax levy increase in the corporate fund would not translate into higher tax bills, because the village’s Equalized Assessed Value, or the total taxable value of properties in Maywood, grew by 13 percent this year — a significant increase with no recent precedent.
The board had initially voted 3-2 in favor of the 5 percent increase, with Trustees Yarbrough, Wellington and Sanchez voting for it and Perkins and Brandon voting against it.
Yarbrough said that he agreed with staffers that the village should take advantage of the high EAV, which they said presented the untypical opportunity for the board to levy more than the 3 percent increase it has raised for at least in the past three years and generate some much needed revenue — with little to no impact to taxpayers.
“Next year or the year after, that opportunity may not be there,” Yarbrough said.
The difference in revenue between a 4 percent increase and a 5 percent increase is around $126,000, according to data provided by village officials.
Tax levies need to pass with a majority of at least four votes, said village attorney Michael Jurusik, forcing members to vote on the 4 percent compromise recommended by Brandon. VFP
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