Manhattan Homeowners See Property Tax Rate Decrease for 3rd Year in a row
New Village Administrator Hired
Residents in Manhattan should see a property tax rate decrease in the municipal portion of their property tax bill after Village officials passed their annual tax levy at last week’s board meeting. This would be the third year in a row the Village has reduced the levy which is roughly 10% of the total property tax bill.
The levy is set annually based on operating expenses and revenues. According to Glenn Gehrke, Finance Director for Manhattan, the Village factors in three core principals when setting its property
tax levy. “First, we need to collect taxes from residents who moved into the community in the past year or growth,” explained Gehrke. “The second, is to collect the required amount of money for our
police officers’ pension contribution, or pension. The final portion is to increase the amount collected by the rate of inflation. After these three principals are applied, the Village expects our portion of the tax rate to decrease.”
Mayor Mike Adrieansen believes being fiscally conservative is the right thing to do. “The Village Board and staff work continuously all year to keep our books balanced and provide the most services we can for our residents. In these tough economic times, every little bit helps. The levy should produce some savings for our residents.”
In addition, the Village abated taxes on several General Obligation Bonds to make sure the bond payments were not placed on property tax bills creating additional savings. These bonds instead will be
paid by new home builders. “Abating taxes is estimated to save the Village money and reduce the Manhattan portion of a resident’s tax bill,” added Adrieansen. General Obligation Bonds are issued by municipalities to fund major infrastructure projects like home equity loans for homeowners. Historically, general obligation bonds have been the most cost-effective financing for the Village.
Since the Village of Manhattan met its financial obligations for principal and interest due, the remaining funds were abated to avoid an increase in property taxes.
In other Village business, Nick Palmer was unanimously approved as the new Village Administrator filling a vacancy created earlier in the year. Marc Nelson, Community Development Director, has been serving as interim Village Administrator and will continue in that role until early January. Palmer comes with nearly twenty years of executive level leadership most recently serving as Chief of Staff for the Office of the Will County Board.
“I’m excited about the opportunity to work in Manhattan with the staff, elected officials and on behalf of the community,” stated Palmer. “I grew up in the region and my wife Laura, and our four children reside and make our home here in Will County. I look forward to bringing my expertise and skills to the Village and be a part of their future progress.”
Mayor Mike Adrieansen is pleased the process is finally completed. “We took our time over the last year to find a high-quality candidate with the expertise we were looking for in an administrator. We
are looking forward to working with Nick to advance our goals as a Village.”
Manhattan Press Release