Stop raising taxes, dig into reserves

Most Geneva Township homeowners finally saw their home assessment reduced recently. Whether the assessment truly reflects market value is another question. The next shoe to drop is that nearly every local taxing body will now look to raise the tax levy above last year's.

The Geneva Library board has already voted to raise their levy and the Geneva Community School District 304 will make their decision sometime before the end of December. At the Nov. 8 school board meeting, the administration recommended raising the levy. According to a school official, the increased levy will only be $50 per year on a home valued at $300,000.

The school district is already sitting on well over $40 million in reserve funds. This amount is well above the 28 percent of operating budget suggested by the state of Illinois. Where did this money come from? From the taxpayers in the Geneva school district. For years we have paid more in taxes than the school district needed.

The district's own outside financial consultant has projected the following reserve fund balances for the next six years: 2011, $41.1 million; 212, $44.8 million; 2013, $38.4 million; 2014, $41.2 million; 2015, $34.5 million; and 2016, $40.0 million.

The time is now for the district to start spending these reserve funds. If you agree, please do two things send the board an e-mail at board@geneva304.org stating that you are against any tax levy increase, and attend the next two board meetings set for 7 p.m. Nov. 22 and Dec. 13 in the Coultrap facility. The board must vote on the tax levy before the end of December.

There is no need to continue to save for a rainy day. The day has arrived in the form of a severe recession, major job losses and lower home values. It is time the school district stops overtaxing the community.

Bob McQuillan

Geneva