LAWSUITS NEWS & LEGAL INFORMATION
Back Taxes Owed
Streator, IL: (Apr-15-08) The Streator Public Library brought a lawsuit against the city of Streator, alleging that excessive money was collected through the city's personal property replacement tax. Sources said that the law stipulated that the city must repay 9% of the tax money to the library, but records show that none was paid from 1980 to 2004. The dispute started when the oversight was discovered in 2004, when the city began paying the library the 9% owed to it. The dispute centered on whether the city should pay $388,000 in back taxes from the previous years.
Sources stated that the two sides had reached a settlement in the case, in which the city of Streator agreed to pay the Streator Public Library $325,000 in back taxes, resolving the dispute. City officials claimed that the library settlement is tentatively scheduled to be completely paid within the 2008-2009 budget year. That amount pushes the municipal budget into the red, with a projected deficit of $204,000. [MY WEB TIMES: CITY, LIBRARY REACH SETTLEMENT]
Published on Apr-16-08
Sources stated that the two sides had reached a settlement in the case, in which the city of Streator agreed to pay the Streator Public Library $325,000 in back taxes, resolving the dispute. City officials claimed that the library settlement is tentatively scheduled to be completely paid within the 2008-2009 budget year. That amount pushes the municipal budget into the red, with a projected deficit of $204,000. [
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