El Portal to keep tax rate the same for new fiscal year
07/25/2014 3:54 PM
07/25/2014 3:54 PM
El Portal isn’t planning on changing its tax rate for the upcoming 2014-15 proposed budget.
Village Manager Jason Walker is proposing a tax rate of 8.3 per $1,000 of assessed value for the upcoming budget — the same as last year.
El Portal’s tax rate still needs to go before the council during two budget hearings before taking effect Oct. 1, the start of the fiscal year.
Walker says the budget wasn’t complicated.
“It wasn't a challenging budget year, since we had an increase in value,” he wrote in an e-mail.
The total projected spending budget for this year is set to $1,748,334 compared to last year’s $1,629,585. The village counts on $548,811 in reserves.
Walker says he doesn’t anticipate any layoffs, but he has proposed a part-time code enforcement officer.
“Things are improving with the increase in property values,” he wrote.
Also, he has suggested improving village property.
“We are looking at the renovation of the Village Hall and some right of way improvements,” he wrote. “Also, we will work on street calming projects. We will also begin the task of researching installing a sewer system in El Portal.” He added that he doesn’t have a quote on how much the projects could cost.
Walker says there is a positive outlook for the village’s finances.
“We are doing the best we can to recover from the financial downturn of the past several years,” he said.
The budget hearings will take place Sept. 10 at 6:29 p.m. and Sept. 23 at 6:59 p.m. at Village Hall, 500 NE 87th St.
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