sales tax main

Proposed 1% Sales Tax Increase Referendum

Election: November 2, 2010

WHAT DOES THIS MEAN TO ME AS A VILLAGE RESIDENT?

•Revenues would be collected from everyone shopping in Cherry Valley; not just residents. Our village population is approx. 3,000 but there are approx. 15,000 people daily (shopping) in our business district.

•Revenues generated by the 1% sales tax will bring in more revenue (and be much less of a financial strain) than having a property tax on village homeowners and businesses. This method of revenue collection is the same as we currently have (through sales tax) rather than a property tax.

•The additional 1% sales tax has a 5 year sunset clause. It can only be extended by you, the resident.

•The additional 1% would not harm the village’s business community vs. other area cities, since many of them already have the additional 1% sales tax already (Rockford, Machesney Park, etc.).

•The revenues generated will keep the village solvent without the need for drastic cuts in personnel and services (village staffing is at the same number as it was ten years ago; even with the population increasing 30% and our land area increasing over 200%).

•Besides keeping the Village solvent, the additional revenues would be used for badly needed capital improvement projects (a list of which has been outlined by Village Staff & Board).

•Lastly, the Village Board has a responsibility to its residents to provide the services we all currently need and quite frankly enjoy. The Village Board believes this approach will enhance the lives of its residents by repairing roads, expanding village infrastructures, and attracting even more businesses to the Village of Cherry Valley.