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VOTERS
NEAR SPRINGFIELD FACE NEW PROPERTY TAX TO PAY FOR PENSIONS
Illinois Policy Institute/
Vincent Caruso
Voters in the village of Jerome, on Springfield’s southwest edge, will
decide whether to adopt an additional property tax to pay for public
pension contributions.
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 The village of Jerome will look to voters Nov. 6 for a new
source of public employee pension funding.
Jerome residents’ general election ballots will include a referendum seeking
voters’ approval for an additional property tax. Leaders would use the revenue
exclusively to cover village contributions to the Illinois Municipal Retirement
Fund, or IMRF.
Owners of a single-family home with a fair market value of $100,000 would pay an
additional $53.33 in property taxes under the tax hike proposal for the 2018
levy year – payable in 2019, according to the village. Under the proposal, the
village’s property tax extension would rise to $67,432 from $22,169, a 204
percent increase, according to the village.
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The referendum will read: “Shall the corporate authorities of the
Village of Jerome, Sangamon County, Illinois be authorized to levy a
new tax for the purpose of covering the Village’s Illinois Municipal
Retirement Fund employer contribution and have an additional tax of
0.16% of the equalized assessed value of the taxable property
therein extended for such purposes?”
Jerome is a village of 1,600 residents with a median household
income of $49,000. It sits on the edge of Illinois’ capital city,
and more than one in four workers is employed by a government body.
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