City of Jacksonville Finance Committee met Nov. 19.
Here is the minutes provided by the committee:
The Finance Committee meeting was called to order at 4:00 p.m. in the Commission Room of the Municipal Building by Chairman Don Cook. The meeting was publicly announced by posting and by written notice to the local newspaper and radio stations.
ROLL CALL: The following were present: Aldermen Don Cook – Chair, Mike Wankel – Vice- Chair, Karen Mudd, Aaron Scott; Mayor Andy Ezard; City Clerk Skip Bradshaw. Absent from the meeting were City Attorney Dan Beard; Alderman Tony Williams. Also in attendance was Treasurer Ron Smiljanich. A quorum was declared.
Purpose of the meeting was to Discuss the 2018 Tax Levy.
Every year the City is asked to help financially support the Police and Fire Pensions, and the Library. This is accomplished by imposing a tax levy. In 2017, a tax levy of 2.5% was imposed, which just covered the City’s obligations to those funds. CC Bradshaw disseminated copies of proposed tax levies of 2.4%, 3%, 3.5%, 4%, and 5% for review. In addition to those obligations, the State mandates collection of a Replacement Tax of 14% of the total tax levy for each fund. The City chose to incorporate the Replacement Tax into the total levy for 2018, so the numbers shown on the proposed levies include that obligation. A minimum levy of 2.4% is needed to just cover those obligations. Chair Cook pointed out that a tax levy increase does not mean that homeowners property taxes will increase by that amount. He also commented that now is the time to begin funding the City’s reserves, and feels small, incremental increases to the tax levy is best in order to avoid over burdening Jacksonville residents. Brief discussion ensued, and at the end of discussion it was the consensus of the Committee to recommend to the Council a 3% tax levy increase. Any funds over and above those obligations will be put toward various projects.
PUBLIC COMMENT: No discussion.
ADJOURNMENT: With no further discussion Chair Cook adjourned the meeting at 5:29 p.m.
http://www.jacksonvilleil.gov/city_government/city_council_committees/finance_it_personnel_minutes/Finance%20Committee%20Mtg.%20Minutes%2011.19.18.pdf
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