Voters of Millersburg and Mercer Townships:|
In response to an erroneous letter in a local paper, members of the Friends of Mercer Carnegie Library would like to clarify these taxing facts.
It has come to our attention that there are some misunderstandings with regard to calculating the tax impact of the Mercer Carnegie Library bond referendum. Remember that the 37.89 cent per hundred dollar tax increase applies to the taxable value, which is one third of the market value less a homeowner occupied deduction of $6,000. A $100,000 market value home has a taxable (assessed) value of $27,333 so the 37.89 cent per hundred would equal $103.57 in taxes annually. Also, be mindful of other qualifying deductions which could further reduce a homeowner's tax bill.
The increase is a 20-year bond which could be reduced by early payments or grants. We hope the information helps to clarify the matter.
Betty Paul, Lois Ricketts,
Friends of the Mercer
Milan, IL Details
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