Facts not previously know to the public.
After showing charts that the new $56. something million new BelWood (BW) would be supported by an average 3% increase in Assessed Property Evaluation now we are told by our administrator that it is more likely to be 1.5% annually. Also, that financing has been back-stopped with the same utility tax pot passed by a narrow referendum vote, that is supporting the major cost of the new museum, as the full amount cannot be covered by the 2003 property tax levy.
In effect, people buying in Peoria who don't use BW or wouldn't even though they can, (at least 10% of the residents at BW now come from OUTSIDE the county and who pay no tax to support BW) will LIKELY be paying sales tax supporting the $51 million bond and interest for BelWood, around $72 total depending on whether the bonds are for 20 or 30 years, not determined to date.
Interesting.
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