Riverside Info Topic: Workshop 3

Riverside Info Topic: Workshop 3 http://www.riversideinfo.org/forum/ Discussion Forum for Riverside Illinois en Fri, 10 Feb 2012 06:53:05 +0000 Tim on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/10#post-3344 Sun, 25 Feb 2007 10:26:21 +0000 Tim 3344@http://www.riversideinfo.org/forum/ Mike S. From Candi Grace in an earlier post, "School Referenda are here to stay - get used to it. Before the tax caps, taxing bodies could levy as much as they wanted up to their legal limit. For example, District 96's legal limit is about 2.49. So they could just levy whatever they felt they needed. Then the tax caps came in and allowed only a small percentage increase every year - either CPI or 5% whichever is less. This puts all taxing bodies in the position of needing a referendum on a more frequent basis. Both RB and Dist 96 are going to need Education Fund referenda every 8-10 years and building fund referenda every 10 years. The CPI is a bad measure for the kinds of expenses that schools face. There was a move in the legislature to change to the ECI (employment cost index) as a more 'fair' index of the kinds of costs the schools incur. As far as I know, it got killed in committee. The schools will need a building fund referenda every 10 years because the state mandates a life-safety inspection every 10 years. And then you have to fix everything on the list..." Candi Grace is a Trustee and used to be on the school board. To misrepresent the future cost of the proposed TIF to our schools by limiting it to the tax cap and IGNORING the impact of referenda is misleading. MikeSedivy on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/10#post-3163 Fri, 23 Feb 2007 13:03:41 +0000 MikeSedivy 3163@http://www.riversideinfo.org/forum/ You may have to go slower on that one - you can certainly still have a referendum with a TIF. Also, I certainly would not say that tax referenda have been given freely in Riverside - I think its been more like hand-to-hand combat if you talk to those proponents of historical referenda. No, I do not have the data on historical referenda so I am speaking anectdotally. Tim on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/10#post-3161 Fri, 23 Feb 2007 12:54:55 +0000 Tim 3161@http://www.riversideinfo.org/forum/ The power to circumvent the law, in this case the caps, is a valuable tool and carries a price. If you were an investor in the stock market and the Federal Government capped growth on investment at 10% in any given year, your growth would be limited...if your portfolio went up 25% and you could only capture up to 10% you'd be getting cheated out of the difference. If there was a tool (like referenda) available that would circumvent the cap and allow the individual in possession of that tool to go above the cap that tool would have a price. That tool would be valuable. That tool would be valuable above and beyond the value of the cap. In my example above, the value would be the re-capture of the 15% you would not otherwise have gotten without the tool. That tool has value above and beyond the cap. Let me repeat that...That tool has value above and beyond the cap. One such tool in Riverside is referenda. Historically, Riverside has repeatedly given that tool to our schools via referenda vote. You yourself even said you voted for every referenda for our schools. IF you neglect the power of referenda to circumvent the law, the power that RIVERSIDE has freely given to its schools, when calculating the cost of a TIF to our schools... you are cheating the schools out of the VALUE of their tool. (edit: freely to repeatedly) MikeSedivy on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/10#post-3152 Fri, 23 Feb 2007 11:56:00 +0000 MikeSedivy 3152@http://www.riversideinfo.org/forum/ Tim - I do not see how your referenda question is relevant to the discussion. Two substantive school referenda have passed in the last 3 years. CuriousResident on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/9#post-3113 Thu, 22 Feb 2007 20:19:22 +0000 CuriousResident 3113@http://www.riversideinfo.org/forum/ Tim and Kim are rehighlighting what I was trying to say yesterday: " Isn't this just going to push the schools to a referendum sooner than later?" But you guys have added the multiplier/explanation point. Not only did our money already go to the developers instead of the schools, the frozen for 23yrs contributions are relatively less and less compared to the tax base as a whole. So, it will not be just 1 referendum, because over 23yrs there will probably be one every 3yrs(after realizing the triannual assesments won't keep up)! spatny on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/9#post-3111 Thu, 22 Feb 2007 19:32:59 +0000 spatny 3111@http://www.riversideinfo.org/forum/ Hey, the Queen has Corgis. They're nice little guys, just low slung. The Bantam does not land low blows. She's just trying to type like me. Give her a pass. KimJ on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/9#post-3110 Thu, 22 Feb 2007 19:25:02 +0000 KimJ 3110@http://www.riversideinfo.org/forum/ oops, thanks for the spell check! lol corbi328 on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/9#post-3109 Thu, 22 Feb 2007 19:22:26 +0000 corbi328 3109@http://www.riversideinfo.org/forum/ Kimj, You should really watch the spelling. It's kind of surprising coming from someone who is such a spelling vigilante. If I didn't know any better, I would conclude that you are doing it on purpose. You should take care to not give the appearance of being so mean or people won't like you. We wouldn't want the Bantam to develop that kind of reputation. It wouldn't be good for your political aspirations. KimJ on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/9#post-3102 Thu, 22 Feb 2007 18:19:36 +0000 KimJ 3102@http://www.riversideinfo.org/forum/ From Corgi, "A TIF would not divert tax dollars from schools resulting from a referendum." Is it then true that should a school go to referendum, the rest of the village not only pays their portion of the tax hike, but also picks up the share that is not coming out of the TIF district? Tim on "Workshop 3" http://www.riversideinfo.org/forum/topic/workshop-3/page/9#post-3101 Thu, 22 Feb 2007 18:17:34 +0000 Tim 3101@http://www.riversideinfo.org/forum/ "A TIF would not divert tax dollars from schools resulting from a referendum." Correct. But has no bearing on my question. It does have bearing on how taxpayers would make up the difference to maintain school budgets once the TIF is capturing funds from the Village 'pie'...60% of which historically belong to the schools. Less money for school budget due to TIF = more referenda for taxpayors. "The answer to your question is that referendums have no bearing on my calculations." Correct. Your calculations neglect the burden of taxation that will be carried by the residents of Riverside secondary to monies captured by the TIF FUND...in order to maintain school budgets. The TIF will force residents to either opt for decrease in school budget or vote for referenda, again and again and again... ...Oh, BTW, can you give Mike a call and get the number of referenda for me.