By Annette Newcomb~Editor
An error in the tax bill and library levy has left the Village of Twin Lakes with a $232,080 increase in the levy over what it was intended to be levied.
During last week’s Committee of the Whole meeting trustees learned of the mistake, which averages a $60 overpayment by village taxpayers.
The village makes an annual payment to the library and the amount is included in the village budget.
A memo to trustees from Village Administrator Jennifer Pollitt explained that in 2009 the village board voted to have the library levy listed separately on the tax bill. This does not mean the library is an additional taxing jurisdiction, but rather separated for information purposes only.
The levy was reported to the county for the full budget amount, which could be appropriate if the library payment had not been separated out, Pollitt wrote.
Because the library was included in the village levy it resulted in a $232,080 increase in the levy over what it should have been levied.
Trustees were presented with two options: reimburse taxpayers an average of $60 each of keep the funds or amend the budget to increase contingency by $232,080 to village reserves.
Pollitt recommended keeping the funds. Reimbursement costs would be prohibitive, after village staff calculated 4,000 individual parcels, plus paper/ink and postage.
Because the village is already over budget for overtime and double time due to plowing operations this year, and because the village is still working through its 2013 resurfacing program, the additional money can be used to offset some of these costs.
The village adopted a policy two years ago to increase the reserve by 10 percent by 2020 and this increase cold get the village closer to that goal.
Pollitt said the village can decide in the fall whether to adjust the 2015 budget to offset the 2014 error. Changes have already taken place to assure this error does not occur again.
During the regular village board meeting, set to begin at 7 p.m. Monday, Feb. 11, trustees will consider either adopting Resolution R2014-2-1 declaring a 2014 amended village levy of $3,534,113 and also adopt resolution R2014-2-2 amending the 2014 budget to increase tax settlement and contingency of $232,080.
If the board opts to reimburse for the tax error overage they must approved R2014-2-1 declaring the village levy of $3,302,033. No action would be required on R2014-2-2.
A two-thirds vote by the village board is required to amend the levy.