Milan considers tax levy for police pension fund

Milan considers tax levy for police pension fund

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MILAN, Ill. -- Village leaders discussed a proposed tax levy and its implications for Milan and its taxpayers.

The proposed increase would be approximately $1.33 per $100 assessed value. That number isn't finalized yet, and no vote was made to approve the levy. The vote will likely come at December's meeting.

Administrator Steve Seiver said the increase is partially because the tax base has grown, but mostly needed to help fund their portion of the police pension fund per Illinois law; $46,000 would go towards the police pension fund.

"Even though we raised taxes recently, it's still a very good rate," Mayor Duane Dawson said, comparing it to neighboring Illinois areas. The change, if approved, would take effect for the 2020 tax year.

He said the state is still working on a plan to help with the police pension fund crisis that is plaguing many communities across the state. A recent proposal would return control of the funds to the state by consolidating the funds across the state with Milan still contributing their portions each year. Dawson said he wishes they would instead just extend the target date and leave the village in control.

"To me, that would have been much more effective." He said the change could mean Milan could face penalties for taking money from investment funds before maturity and have other consequences.

A public hearing regarding the tax levy will be held at 5:15 on Monday, Dec. 2, at the village hall.

The board also:

-- Discussed that the village has no say in the temporary closure of Dollar General. They said it was a corporate decision, but the store has since reopened.

-- Discussed that new street signs are going up to replace some that are worn out.

-- Approved the semi-monthly and miscellaneous bills. Monthly bills totaled $45,028.62 and the miscellaneous run was $1,674.08.

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