Estimated Tax Levy for 2005

Every year we have to estimate what the EAV for the village is in order to past the Tax Levy. The reason we have to estimate is the county will not have the actual number until after we pass the Tax Levy. If you estimate lower that's all you get, so its important to be higher then the actual. However its also important to be accurate because we base the budget and the tax rate on the figures. So we need to be slightly higher then but not dramatically higher.

Fortunately we have the "estimating" expert on staff (she called the 2003 census final numbers in the office pool within 50 residents as well) our Director of Finance Maggie Molidor always is a skilled forecaster. Maggie has been with the village for 12 years as former Mayor Jim Lumber's Finance Director and then 4.5 years as mine. When Mayor Lumber took office the village had roughly $1,000 in our checking account. Today our balance sheet has a bottom line of $35 million dollars (assets, facilities, land etc).

Anyway 5 years ago the village EAV (which is the total taxable value of all the land and structure in the village boundaries) was $75 million. This years estimate is $299 million.

2005-- $299 million (estimated)
2004-- $243 million (actual)
2003-- $177 million (actual)
2002-- $122 million (actual)
2001-- $93 million (actual)
2000-- $76 million (actual)
1999-- $66 million (actual)

If you look at these numbers it parallels the growth.