To Whom It May Concern,
The Village of Fayette has placed two property tax replacement levies on the upcoming general election. A replacement tax does not increase the tax rate, but it generally has the effect of increased taxes since assessed values increase.
The first is to replace the 2.9 mills for General Operating expenses and is projected to generate an additional $21,300 of income to the Village. The driving force for this levy is a street resurfacing project. The village is receiving grant funds of roughly 50 percent of the cost of the project and a loan to cover our matching amount. The loan payments for this project would be $20,800 a year – almost exactly the amount of tax generated. This tax has not been replaced since 1968.
The second is to replace the 2.0 mills for Parks and Recreation and is projected to generate an additional $5,622 of revenue, which would be designated to use only for Parks and Recreation. The current park budget is very tight, and the ability to make large maintenance expenditures is severely limited, essentially forcing the park to save up for several years to make needed improvements. The levy is needed In order to properly maintain what is there, let alone make improvements.
Both of the levies are needed to keep the Village of Fayette on the right path financially, and together they will only cost the average homeowner about $1 a week. I believe that everyone can find room for $1 a week in their household budget.
Steven J. Blue
Fayette Village Administrator
419-237-2116 Ext. 102
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