An effort to create a taxing district for properties adjacent to Silver Lake to generate funds to maintain the quality of the lake got the informal approval of the Salem Lakes Village Board to move forward.
Jim Purinton, a member of the Silver Lake Protection Association’s Committee on District Feasibility, gave a presentation at Monday’s regular Village Board meeting.
The new lake district would be different than the current association in that it could levy taxes to properties within the district’s boundaries.
The lakes association, which is funded by donations and whatever grants it can win, is not able to keep up with the expenses needed to manage vegetation growth and other issues that impact use of the lake, Purinton said.
The district would have to be created by the village.
A previous effort to create a Silver Lake district was derailed by resident opposition.
This latest effort is different because it is very narrowly focused on 175 properties that are directly adjacent to the lake, Purinton said.
Those targeted properties have a total assessment in excess of $64
million and pay annual real estate taxes of over $1.17 million, Purinton said. The lake district as proposed is estimated to cost district taxpayers about $75 per $100,000 valuation annually, or about $150-$375 per year for properties assessed at $150,000 to $500,000.
Purinton said the district has the support of most of the property owners within the district, with 75 percent having signed a petition calling for the district formation. That petition was presented to the village in September.
Village Board members that spoke after the presentation seemed ready to let the process continue.
“I support it,” said village President Diann Tesar.
Said Trustee Dennis Faber: “It’s been a journey to get it here.”
The next step for the group is to more formally define the proposed district’s boundaries with a legal description. Purinton said his group will be back before the board in 30 to 60 days after that task is completed.
