Sleepy Hollow tax hike grows bigger

Sleepy Hollow tax hike grows bigger

Back in June, the Daily Herald reported that Sleepy Hollow may ask voters for a 77 percent tax hike. Well folks during the summer, village officials managed to get even greedier by upping the ante from an additional $400,000 to approximately $428,000, or a proposed 82 percent tax increase in village property taxes.

At face value an 82 percent increase seems absurd yet officials took the time, effort and legal expense to put the question to voters this November. So why did village officials propose the gargantuan increase? According to the ordinance passed to get the question on the ballot, they want to spend a lot more. Approximately $428,000 more each year for public works, police and other services as well as additional funds for capital improvements like cars, trucks, roads and buildings.

Are current village finances inadequate? No, in my humble opinion as an Illinois registered CPA and resident of the village for over 25 years.

The village held $2.16 million in cash and investments as of fiscal year end April 30, 2014. During that year, employees enjoyed generous benefits with health insurance for 11 full time employees averaging $17,867. Employees on average only contributed 7.3 percent for their health insurance.

During the fiscal quarter ended July 31, 2014 the village's General Fund cash and investments also increased almost $200,000 as revenue exceeded expenses by $195,000.

So how much more will this cost Sleepy Hollow residents if passed? Let's assume your house is worth $200,000. The increase you would be paying would nearly match what village officials already collect from you. You would have to pay approximately $310 more in 2015.

How do you defeat an 82 percent tax hike? Vote no on Tuesday, Nov. 4.

Have Sleepy Hollow officials lost their heads at the hands of another Headless Horseman?

Mike Tennis

Sleepy Hollow