FORESTVILLE – Residents in a north county community are facing a very steep increase in their property taxes.
Time Warner Cable News is reporting that dozens of concerned residents packed the Forestville village hall on Tuesday night to voice their concern over a proposed 445 percent increase in the property tax rate.
According to the report, the village is in fiscal dire straits, thanks to two five-year loans totaling about $400,000 – both of which need to be repaid in full this year. Village officials say they have a plan to use reserves to pay off $150,000 for one of the loans, but are unable to find any funding for the other $250,000 – other than by raising property taxes. Many village residents reportedly say they can not afford such a steep increase. The village urged them to contact state and county leaders to express their need for help.
[…] serious financial hardship when it meets Wednesday night in Mayville. The village of Forestville is facing over a 440 percent tax increase, which would be necessary to help pay off loans that are due by the end of this […]