Village officials estimate the increased sales tax will raise conservatively about $3.5 million because of the strong retail market provided by Best Buy, Target, Menards and Walmart. Half of the funds will be used to improve quality of life (water and sewer improvements) and half for property tax rebates. Village officials estimate the average rebate per homeowner will be $300.
The Illinois Association of REALTORS® and the Mainstreet Organization of REALTORS® support the referendum because the rebate will provide property tax relief to residents, says IAR Government Affairs Director Tom Joseph. The IAR/MORe postcards are easy to identify in the mailboxes of residents because they feature large images of pennies.
Joseph says non-home rule governments such as Crestwood can raise sales taxes to finance village only infrastructure improvements such as roads, sidewalks, curbs, sewers and water. Crestwood wants to use the sales tax referendum because the retail establishments draw customers locally and regionally.
IAR has future mailings planned for residents, he says.