CRETE | The Crete Village Board approved an ordinance to levy $2.49 million in property taxes for the fiscal year 2013.
The amount levied is a 5.37 percent increase over the 2012 levy.
Part of the reason for the increase is a projected $3 million loss in the equalized assessed value of taxable property in the village.
“The EAV is projected to be down about $3 million this coming year,” Village President Michael Einhorn stated. “That means taxable property will pay less tax based on less value.”
The ordinance stated the total amount appropriated to pay village expenses is $12.53 million. A total of $10 million will come from sources other than the property tax levy, mostly general state aid and federal aid.
A total of $3.7 million will be needed for the village general operations And $1.9 million is earmarked for police protection with $856,350 earmarked for fire protection.
Water and sewer projects and maintenance will need $1.3 million.
Prior to the regular board meeting, the board conducted a public hearing to provide residents the opportunity to comment on the proposed tax levy. There were no public comments.
The board also approved three ordinances to abate the tax levied to pay debt service on a total of $3.125 million in General Obligation Bonds.
Einhorn explained that by paying the debt service on the bonds with money from sources other than the tax levy, the move helps keep taxes lower.
“If we took the debt service (principal plus interest) due this year from tax levy, we would need to raise taxes accordingly,” Einhorn said. “We have the funds to pay the debt service without using tax monies. That will help keep taxes a little lower for residents.”
The board also approved an ordinance to rename the Emergency Services and Disaster Agency to the Crete Emergency Management Agency. In addition to the renaming, the ordinance also established a new EMA chapter that was added to the Municipal Code.
Einhorn told the board that the Crete-Monee football team, which won the Class 6A state title Nov. 24 in Champaign, will be part of the Christmas parade that takes place on Saturday.
“We will also be looking into having signs erected at the entrances to the village (proclaiming state champions),” Einhorn said. “We want to brag on our football team.”