Village boasts tax affordability for residents

The Village of Freeport has announced its annual budget for the upcoming fiscal year, which includes a zero percent increase in the tax rate for the tenth consecutive year. This is thanks to the village’s efforts to scrutinize and change the way tax dollars are utilized, through strict accountability and an increase in non-tax revenues.

“Throughout all the economic problems and turmoil that are going on in the world, all the increases to medical costs to pension costs, to contractual costs, we’ve still been able to keep ourselves at a zero increase,” Village Attorney Howard Colton said. 

Despite the challenges presented by the global pandemic, the village has continued to prioritize economic development and has successfully shored up its tax base. This, coupled with the reduction of expenses across all levels of government, has allowed the village to further reduce costs and manage the mandated increases in pension, labor costs, property insurance, and flood insurance policies, as well as reductions in Federal and State aid.

This budget also allows for the hiring and maintenance of a record number of new police officers, bringing the total number to 107, which has contributed to a 56 percent reduction in crime in the village. Additionally, village services such as sanitation, DPW, electric and water are not to be affected by this budget.

As an outcome of these efforts, the average homeowner’s tax rate is projected to be 61.649 per 100 dollars of assessed valuation, a 1 percent decrease from the current rate.

“98 percent of the people in the village will see their tax bill remain the same as it was 10 years ago, and in fact, it will even decrease by 1 percentage point due to cost measures by the village,” Colton said.

Residents of the Village of Freeport can rest assured that they have access to reliable and affordable essential services, thanks to the village’s ability to provide its own water, electric and other services. Freeport is an independent municipality, with its own government and the ability to provide services to its residents, much like a city. 

“Even though Freeport is a village, effectively we’re a city,” Colton said. “We have our own water, our own electricity, our own police, we have everything.”

Mayor Robert Kennedy and the village expressed appreciation and gratitude to everyone involved in the budget process and emphasized the importance of maintaining a balance between preserving village services and stabilizing the tax burden for the majority of residents during times of economic stress.