When major changes are made in tax and spending proposals, a citizen does well to compare costs with benefits.
Woodstock’s City Council scheduled a 10% property tax cut for Tuesday night’s meeting.
Real estate taxpayers would pay $923,937 less in the spring of 2018 than the $9,183,026 expected to be collected after this year’s tax bills go out.
The first twelve months of the 100% city sales tax hike is estimated by city officials to be $2,337,000.
That’s over two and one-half times as much money.
So, a Woodstock citizen would save one property tax dollar for every $2.50 of new taxes.
Actually, since Woodstock is a regional shopping town, outsiders would end up paying some of the extra sales taxes levied.