Belleville Township residents with a $100,000 home can expect to see an estimated savings of 29 percent, or about $10, on their property taxes designated for the township next year.
That’s according to Trustee Michael Hagberg’s analysis of the property tax levy of $343,400 approved by the township board on Tuesday. This is down from the current levy of $488,000.
The levy is the amount of property tax revenue that a taxing body wants to collect to operate in the coming year. The township’s primary source of funding is from property taxes.
Belleville Township residents with a $100K home now pay $33.29 in property taxes to the township. Under a plan approved Tuesday, this would drop to an estimated $23.40.
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The owner of a $100,000 home currently is required to pay $33.29 a year to the township. Under the plan approved Tuesday, this homeowner would pay an estimated $23.40. This is an estimate because St. Clair County officials will set the actual property tax rate next spring.
Trustees are considering a plan to dissolve the 130-year-old township and transfer duties to the city of Belleville. The township is tasked with giving assistance to needy individuals.
Earlier this year, Gov. Bruce Rauner signed a law allowing the township board to approve an ordinance calling for the dissolution of the township, which has the same borders as the city of Belleville.
Hagberg said the township has an estimated $660,000 in reserves that could be transferred to the city.
Before the township voted on Trustee Joy Schreiber’s suggestion the board approve a property tax levy of $343,400, Hagberg suggested the board approve a property tax levy of $300,000.
“I think the $300,000 that Mr. Hagberg was proposing is doable but at the same time I want to have a little bit of comfort in knowing that if we do dissolve, we have enough to pay off any contracts” that the township would be obligated to pay off, Schreiber said.
Hagberg said he thought his proposal would have “quite a significant reserve still left.”
“I don’t think that’s necessary,” Supervisor Dennis Korte said of Hagberg’s proposal.
Last month, Korte proposed a property tax levy of $508,200. In the end, the board voted unanimously for Schreiber’s plan.
Also, the board will meet only once a month beginning in January. The new meeting time will be at 3 p.m. on the third Tuesday of each month. Currently, the board meets on the first and third Tuesday of each month.