About $7 million ought to cover it.
That’s what the Crestwood Board of Aldermen thinks will be needed over the next six years to maintain city services.
And to cover losses from declining sales tax and property tax revenues from its shopping mall, the board wants to place a 35 cent property tax increase proposal on the August election ballot.The measure will be on the August 5 ballot once it is approved by county election officials.
Here’s a little hair petting to calm you, citizen:
How much of an increase is that to the average Crestwood taxpayer?
Ward 3 Aldermen Jerry Miguel said residents can take the Crestwood portion of their 2007 property tax bill, and then double it for next year.
That’s an opponent of the bill speaking out. Let’s put it into context:
- Take the Crestwood portion of your 2007 property tax bill.
- Double it.
- Add 20% when your property is reassessed next year.
- Subtract it from your budget, which will be dinged by two county tax increases.
- Put in an x in all future household budgets, where in x represents the total of all future emergency tax increases for your fire protection district, for your police pension plans, for Forest Park, for the impending museum districts, for the county budget shortfalls, and so on and so on.
When the total is equal to or greater than your income, I guess you can stop. Or keep going, assessing penalties for not making enough to cover your tax liability.