VICKSBURG, Mich. (WOOD) — Vicksburg leaders held a celebration Monday commemorating the recent decision to cut taxes for residents and businesses.
Village trustees voted in June to reduce taxes by half a mil. Village Manager Jim Mallery said the cut would represent $55 to $60 in annual savings for every $100,000 in state equalized property value.
“Nowhere that I’ve ever seen before or heard has a community or government actually given tax money back to its residents,” Village Trustee Carl Keller said. “It’s a huge deal.”
Mallery said the village had a $1.5 million surplus as of June, enabling leaders to make the tax cut to their more than 3,000 residents.
Trustee Rick Holmes says for him, it’s a campaign promise kept.
“I ran on four platforms last fall and lower millage rate was one of them,” Holmes told 24 Hour News 8.
This cut is just the beginning, Mallery said.
“If we execute the plan as delivered that we should be looking within five years to have another full mil reduction,” Mallery told the crowd gathered for the celebration.
Mallery said the village has saved money by tightening the budget, holding off on purchases that would require the use of credit and reducing long-term liabilities in health care and pension benefits for village employees.
“It’s their money,” Keller said.
“It’s just being — through actions — that demonstrate that our word has credibility in the direction we’re moving,” Mallery said. “It’s extremely important for this council and myself to demonstrate to the citizens that we’re listening to them.”