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City proposing property tax increase

The city is proposing an ordinance that could raise property taxes and would allow the Carbondale Public Library to sustain itself without funding from the city.

If approved, the ordinance would increase taxes by approximately $20 for people who own a home worth around $75,000 and by approximately $35 for people who own a home that is roughly $120,000.

Over the last two years, Carbondale has provided funding for the library in the amount of $210,000. The increase would compensate for the funding usually provided by the city. The City Council will be voting on the matter at Tuesday's meeting.

At the Nov. 16 City Council meeting, the council reviewed the 2004 proposed tax levy by the Carbondale Public Library Board of Trustees. A tax levy is a law that establishes how much property tax revenue a public entity would receive.

Before the council takes action on the proposed ordinance Tuesday, they will hold a public hearing on the proposed adoption of the property tax levy.

It would also allow the library to set aside $20,000 to create a fund balance, which would improve the library's cash flow, City Manager Jeff Doherty said.

The library has been sustaining financial losses over several years, said Mayor Brad Cole at the last council meeting.

"But the time has come for the library to fully support itself without our subsidy and so, I have encouraged the Library Board of Trustees to seek an increase in their tax levy equal to the necessary funds to cover their entire budget," Cole said during the State of the City Address.

The proposed tax levy is for $637, 097, which is an increase of $178,866 from last year's levy.

The council will also vote on several ordinances that would cancel tax levies created when the city passed ordinances insuring general obligation refunding bonds, some of which were issued to create the Carbondale Civic Center.

If approved, the money to be paid toward the bonds will come from the city's general fund and revenue created by the city's waterworks and sewerage fund.

Canceling the tax levies is something Doherty says the city does every year to help keep property taxes low for Carbondale residences.

"If we don't take this action, then there is going to be a significant increase in the property tax," Doherty said. "That's why we abate it every year, because we have revenue from other sources to pay for it."

 

 

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