Franks Almost Agrees with Walkup that Valley Hi Tax Should Be Abolished

John Schmitt introduces Jack Franks at Franks' Algonquin Town Hall Meeting.

Algonquin Village President John Schmitt introduced Jack Franks at Franks’ Algonquin Town Hall Meeting.

At his second Town Hall Meeting, held at the Eastgate Library in Algonquin, State Rep. Jack Franks was asked whether he favored a zero levy, knowing that it would eliminate the tax for Valley Hi forever.

Jack Franks ranged the front of the room at his Algonquin Town Hall Meeting at the Eastgate Library.

Jack Franks ranged the front of the room at his Algonquin Town Hall Meeting at the Eastgate Library.

Jack Franks

Jack Franks

Franks, running for the Chairmanship of the McHenry County Board, has made much of the surplus in the Valley Hi fund, four times the institution’s annual budget, he points out.

In answering, Franks wondered around the effects of the Tax Cap (works in up markets, doesn’t in down markets), as well as praised Lakewood’s referendum question (“basically doing my bill”), and finally got to the question that was asked.

Mike Walkup

Mike Walkup

“I would probably support a zero levy at this point and if we need more money we can ask for it going forward.”

That’s pretty much what Republican opponent Mike Walkup said to the McHenry County Board proposed over a half a month ago.

See “Walkup Calls for Abolition of Valley Hi Tax.”

Walkup didn’t use the word “probably,” though.

About thirty attended the meeting.


Franks Almost Agrees with Walkup that Valley Hi Tax Should Be Abolished — 8 Comments

  1. Borrowing and idea is fine if the idea is correct.

    My rant has been borrowed, and hopefully shortly will be made into law both State and at the Fed level.

    We need some government, how much will be debated till the end of the earth.

    As tax payers we must take away some of the power/decision making away from our elected officials, spending, setting tax rates, and borrowing.

    These three issues were problems that were never addressed properly when the country was formed and Constitution was written.

    They should have been, but the partisan nonsense started already way back then with over spending and borrowing to buy votes.

    Spending must always match actual revenue available at the time, ie what we are willing to give in the form of taxation.

    Borrowing should only be allowed with voter approval.

    Individual Income tax rates and Property tax rates should not be roller coasters of ever changing rates, which just leads to insecurity for the tax payer not knowing what is coming next from the elected to buy votes.

    That is called: As the wind blows nonsense.

    I would propose we force our elected by Petition, which is allowed in the constitution, to enact a Balanced Budget Amendment that has the income tax rate and/or property tax rate control tied to it.

    The Congress, State, and Local government agencies will only be allowed to adjust the income or property tax rates after a 2/3 approval vote within its legal boundary.

    Our choice, the citizens of the country, state, county, and local government, with a strong majority vote behind changes, not the Pacs controlling the over the top partisan as the wind blows hacks.

    Government agencies that use Property taxes should have no levy power or equalizer or ability to raise taxes because of inflation, whatever the home value, up or down, the rate we voted on determines what is paid in taxes.

    Not enough as most elected seem to keep saying, then come to us with your yearly or two year budget recommendations and let us vote 2/3 for any change from the year before.

    No more passing on our debt to future generations should be allowed.

    We borrow almost 40% for the Fed Gov now that must stop ASAP.

    We can budget a pay back of our various government debts, it’s time we correct our mistakes as lazy sleeping citizens and move on as a country with fiscally responsible government.

    I listening for other suggestions, got one?

  2. And Jack contributed to this:

    As of this morning, the State was spending $113,000,000 more than it was collecting in taxes and fees.

    Put him on the County Board and he will do to this County what he did to Springfield:

    Approve more spending but vote against tax increases.

  3. Re: “I listening for other suggestions, got one?”

    Vote for Trump and the entire Republican ticket.

    The alternatives, Johnson, Stein or not voting for President is a vote for the Progressives.

    As proven over and over, Republicans will ‘compromise’, Democrats will not – just look at Springfield.

  4. sure- cuz you all Republican county board has kept Valley Hi in check and your economy flowing?

    Be educated as a voter and vote the most qualified candidate.

  5. At least Lying Jack Franks is drawing record breaking crowds …. LMAO

  6. Little Known Facts

    Just thought you should know…

    The year was 1947.

    Some of you will recall that on July 8, 1947 , a little more than 68 years ago, numerous witnesses claim that an Unidentified Flying Object, (UFO), with five aliens aboard, crashed onto a sheep and mule ranch just outside Roswell, New Mexico.

    This is a well-known incident that many say has long been covered-up by the U.S. Air Force, as well as other Federal Agencies and Organizations.

    However, what you may NOT know is that in the month of April, year 1948, nine months after the alien crash, the following people were born:

    Barrack Obama Sr.
    Albert A. Gore, Jr.
    Hillary Rodham
    William J. Clinton
    John F. Kerry
    Howard Dean
    Nancy Pelosi
    Dianne Feinstein
    Charles E. Schumer
    Barbara Boxer
    Joe Biden

    This is the obvious consequence of aliens breeding with sheep and jack-asses.

    I truly hope this bit of information clears up a lot of things for you. It certainly did for me.

    And now you can stop wondering why they support the bill to help all Illegal Aliens.

    By the way, when was Lying Jack Franks born anyway?

  7. Efforts to cut taxes in the Village of Algonquin would necessitate looking at the following labor unions whom have collective bargaining agreements with the Village of Algonquin:

    – MAP Chapter 78, Algonquin Officers

    – MAP Chapter 183, Algonquin Civilians

    – IUOE Local 150, Public Works


    MAP = Metropolitan Alliance of Police

    IUOE = International Union of Operating Engineers


    As previously mentioned, the Algonquin Police pension fund is severely underfunded.


    Eastgate library is not in the Village of Algonquin taxing district.

    Eastgate library is in the Algonquin Area Public Library District.

    The 2015 Annual Financial Report (AFR) is found on the library district website. > About Us > Board of Trustees > Board Documents > Annual Financial Report 2015

    It’s 53 pages.

    The following from that annual financial report (AFR).


    The library participates in the IMRF pension fund.

    Inactive Employees or Beneficiaries Currently Receiving Benefits: 30
    Inactive Employees Entitled to But Not Yet Receiving Benefits: 59
    Active Employees: 43
    Total: 132

    The net pension liability is listed.

    Net pension liability is approximately the unfunded liability

    In other words, it is the amount that should have been in the fund but was not.

    In yet other words, it is the employer and thus taxpayer IOU to the pension fund.

    The net pension liability was $2,151,563.

    $7,870,880 was in the fund (2015 Plan Fiduciary Net Position).

    The total liability was $10,022,443.

    Thus the Algonquin Library IMRF pension was 79% funded.

    The actuarial assumptions include wage growth of 4%, and salary increases of 4.4% to 16% including inflation, and price inflation of approximately 3%.


    The annual debt service schedule including principal and interest for general obligation bonds is included in the AFR.

    The bonds will be fully paid in 2019.

    From 2016 – 2019, $3,090,000 principal, $227,301 interest, for a total of $3,317,301 are due.


    There are other financial documents listed in that section of the website.


    Current Algonquin Library Board of Trustee members are:

    Erin Van Der Bosch, President

    Kent Sprague, Vice President

    Jan Baker Kelsch, Secretary

    Katrina McGuire, Treasurer

    Mary Gebhardt, Trustee

    Gabriel Mejia, Trustee

    Fatima Sanchez, Trustee


    The Village of Algonquin Annual Financial Report (AFR): > Government > Transparency > Financial Audits > Comprehensive Annual Financial Report (CAFR) 2014 – 2015

    160 pages.

    For those wondering the pros and cons of Home Rule:

    “The Village, under its home rule authority, does not have a legal debt limit.”

    “The Village continues to use the Home Rule Sales Tax of 0.75 percent for infrastructure and capital purposes.”


    Debt Service Schedules (future bond and interest payments to bondholders):

    General Obligation Refunding Bonds, Series 2013 Water & Sewer, as of April 30, 2015, for period 2016 – 2025:

    Principal: $7,075,000

    Interest: $1,256,900

    Total: $8,331,900


    General Obligation Refunding Bonds – Series 2014A Debt Service, as of April 30, 2015 for period 2016 – 2020:

    Principal: $2,875,000

    Interest: $203,676

    Total: $3,078,675


    Total outstanding bond debt service for Village of Algonquin for period 2016 – 2025:

    Principal: $9,950,000

    Interest: $1,460,576

    Total: $11,410,575


    Police Pension

    55% funded

    $17,402,005 net pension liability (underfunded)


    IMRF Pension

    As of December 31, 2014.

    77% funded.

    Unfunded liability $4,040,004.


    Police + IMRF unfunded pension liability: $21,442,009


    Did Jack Franks or Village President John Schmitt mention the Village of Algonquin owes $21 Million to the police and IMRF pension funds, and $11 Million bond principal and interest?

    Yet Jack Franks has a plan for the Village of Algonquin to cut property tax revenue by 10%?

    But Jack Franks won’t share his plan until after the election?


    Village of Algonquin trustees:

    John Schmitt, Village President, term 2013 – 2017

    Trustee Brian Dianis, term 2013 – 2017

    Trustee Jerry Glogowski, term 2013 – 2017

    Trustee Robert Smith, term 2013 – 2017

    Trustee Debby Sosine, term 2015 – 2019

    Trustee John Spella, term 2015 – 2019

    Trustee Jim Steigert, term 2015 – 2019


    Village Clerk Jerry Kautz, term 2013 – 2017

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