BRADLEY — Now, all Bradley needs is the support of the village residents.
At Monday’s Bradley Village Board meeting, Chip Chappell, president of the Kankakee, Iroquois and Ford Counties Association of Realtors, told the administration and trustees the organization supports the proposed sales tax increase.
Bradley has a referendum on the ballot seeking to increase the sales tax rate in Bradley from 6.25 percent to 7.25 percent. If successful in the March 17 primary ballot, the village’s portion of the sales-tax rate would increase from 1 percentage point to 2 percentage points.
“We are pleased to join this sales tax effort,” Chappell said. “... This is a win for property owners.”
Some village residents also spoke in favor of the higher sales tax rate.
The binding referendum only needs a simple majority vote to pass. If approved, the increased sales tax rate would begin on July 1.
Currently, Bradley collects $7.3 million annually in sales taxes. That figure would jump to about $10.5 million if the new rate is approved. The increase would not include the new tax on items such as medicine, certain foods and vehicle purchases.
As a trade-off to village residents, the administration has stated if would eliminate its portion of the property tax by returning $2 million in the form of a tax rebate to village property owners.