Endorsement: Yes on tax for Round Lake Park police pensions
For too long, Round Lake Park has let its police pensions fund languish, while the brutal economy continues to hamper what meager opportunities it has to keep the fund healthy. Now, the town finds itself looking at a 20 percent-funded account — experts recommend 60 to 80 percent funding — and few options for strengthening a system it has both a legal and moral obligation to support. Thus comes a ballot request to permit a 37 percent property tax increase, just under an additional $100 a year for the owner of a $100,000 home, to ensure the health of the police pension fund. The circumstances are unfortunate, but voters really have no good choice. Failure to provide the increase could lead to lawsuits or significant diversions of funds from the community's already bare-bones budget. Residents will pay one way or the other. We recommend they accept the tax increase, so the village can stabilize its financial picture and move on.
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