The Village of Wellington is trying to keep our taxes low and yet not cut our recreational programs. Back at the end of September the Village voted unanimously to reduce our tax rate to the state-mandated level. The council also reduced their budget for 2008 by $14 Million dollars.
The new tax rate will be $2.34 for every $1,000 of taxable value. This is down from $2.70. If you own a home with an assessed value of $325,000 with your homestead exemption on it you will pay $702 next year instead of $784 that you paid last year.
This tax rate is the lowest in the village since 2003. But they are raising some expenses like our garbage pick up and storm drainage and there may be some surcharges on recreational activities.
The Village of Wellington can also withdraw some money from their savings account to cover the deficit.
I have often wondered with the windfall they made with the increases in taxes because of the increase in home values and the influx of homes being sold over the past years in the red hot market we just came out of; what the heck did they do with all that money? And what in the world is the Village of Wellington spending all the money on?
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Katerina, I don't understand it myself. They raise our taxes (Village) significantly every year and cut back on services. Way back such as not sanding the roads or cleaning out the storm indrains (which caused my flooding). Main Street is decorated, however. I believe they need to spend wisely....