You asked us to do it again and we are!
We supply the paper and bows and will wrap all your Christmas gifts for you!!So we want to share some information with all of you about the most recent tax/fee increases that will be hitting our community soon. This is what we are recently looking at..
1: A 1% increase on the local Cannabis Tax
2: A 5% increase in water rates which will happen every year going on beyond 2031
3: A gradual Garbage Rate increase going from the current $6.50 per month, to $19 a month by 2030
4: A new Food and Beverage Tax of 1% will be applied to all prepared food and beverages that are offered for immediate consumption (restaurants and bars)
5: A proposed 5% increase to the Pension Fund levy (I'm not entirely sure if that means there's also going to be a slight property tax increase or not).
Anyways..... Some people may be asking why we are suddenly seeing all these increases. Well to the best of our knowledge. Carpentersville has been operating in the RED for a few years now. In order to prevent tax increases, they have been relying on the "Fund Balance Reserve" ( which is kinda like a saving account) to help offset their budget shortfall.
To our understanding, the Village cannot continue to rely on its Fund Balance and has to now find ways to generate more revenue and/or cut services (probably a combination of both).
NOTE: We do not work for the village, but some of us do try to follow what's going on (the good and the bad). The Admins/Moderators want to do what we continue to do in this group, which is sharing information about things that are happening in this community.
The Admins/Moderators of this group thought it would be important to communicate these recent rate hikes to the community (knowing that not many residents takes the time to follow things like this)
I have heard of other potential revenue generating funding sources that could be considered,.....An example of that would be a creation of a "Streaming Service Tax" (users with streaming services would pay an additional local tax on their monthly streaming service bill). As of this time Cville does NOT have a Streaming Service Tax, but this tax has been seen in other communities and it could possibly be considered by Carpentersville in the future.
I do not have a solution for Carpentersville's budget shortfalls, but unfortunately I imagine it will take a combination of both new taxes and budget cuts .
What are your thoughts Cville Peeps? What solutions do you offer?
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