Monday, July 6, 2009

Rockford Mayor Says No to Library Pension Contribution

Link to July 6 Rockford Register Star article, "Mayor seeks end to library pension payments".

Excerpt: The library’s property tax, about 32 cents per $100 of assessed valuation, is separate from the city’s. There is no plan to get rid of or redirect the library’s 32 cent levy, Mayor Larry Morrissey assured me Monday. But there’s more to the story. The city pays the yearly pension contributions for library employees. For 2010, the estimate is $683,000. The library has an $8.9 million budget. The $683,000 subsidy is what the mayor plans to eliminate.

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