Township Reimbursement

Consistent with State Law, the City of Champaign reimburses each township for lost revenue due to the annexation of property. The City is required to reimburse the township for 10 years for the Equalized Assessed Value of each property which disconnects from the township as a result of an annexation.

State law recently changed requiring the City to reimburse the townships in two payments over the course of the fiscal year. The City has agreed with the townships that the payments will occur by the end of July and the end of December.

Below are two tables showing the reimbursement amounts for Champaign Township and Hensley Township. The tables show the amount of reimbursement by year, for the ten year period that the City reimburses the townships. The “First Year Payment” is the amount for the annexations that occurred in the last fiscal year, and the

Champaign Township

TEN YEAR PAYMENTS	Year	Amount of Reimbursement
First Year Payment	7-1-08 to 6-30-2009	$83.22
2nd Year Payment	7-1-07 to 6-30-2008	$722.77
3nd Year Payment	7-1-06 to 6-30-2007	$414.88
4rd Year Payment	7-1-05 to 6-30-2006	$893.32
5th Year Payment	7-1-04 to 6-30-2005	$6,151.25
6th Year Payment	7-1-03 to 6-30-2004	$17,953.47
7th Year Payment	7-1-02 to 6-30-2003	$1,067.44
8th Year Payment	7-1-01 to 6-30-2002	$13,101.31
9th Year Payment	7-1-00 to 6-30-2001	$31,657.28
10th Year Payment	7-1-99 to 6-30-00	$61.76
Total for 2008-2009		$72,106.70

Hensley Township

Amount of Ten Year Payments	Year	Reimbursement
First Year Payment	7-1-08 to 6-30-09	$463.72
2nd Year Payment	7-1-07 to 6-30-08	$1,440.54
3rd Year Payment	7-1-06 to 6-30-07	$23.02
4th Year Payment	7-1-05 to 6-30-06	$1,154.61
5th Year Payment	7-1-04 to 6-30-05	$872.10
6th Year Payment	7-1-03 to 6-30-04	$871.54
7th Year Payment	7-1-02 to 6-30-03	$0.00
8th Year Payment	7-1-01 to 6-30-02	$14.97
9th Year Payment	7-1-00 to 6-30-01	$20,574.00
10th Year Payment	7-1-99 to 6-30-00	$9.80
Total for 2008 – 2009		$25,424.30

The totals are broken into two payments of $36,053.35 and $12,712.15 respectively, which occur in July and December.

This entry was posted on Friday, July 24th, 2009 at 8:35 am and is filed under Weekly Activity Reports. Commenting is currently closed, but you can trackback from your own site.