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| *The Commerce Journal>>>Other Taxes |
How does the issuance of bonds by a "village" impact the tax payer? |
I live in a small rural village with roughly 550 residents in the village proper. I am wondering how the $2 million in bonds may impact my taxes. It depends if the village you live in has the cash flow to cover the interest costs of the new bonds. If not, then your taxes would go up to cover the interest. You and the other taxpayers will be paying off the bonds with interest. I hope you got something you could use like a sewer system not something like we get here where they take our money to build ball parks for owners of teams. The bonds will have to be paid off, so your taxes will likely have to rise to cover the bonds. |
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