CASEYVILLE, Ill. (KMOV.com) -- Caseyville homeowners will soon see a 17.5 percent increase in their property taxes.
The money from the tax hike will not fund city roadwork or new police cars, but will be distributed into a few pension funds.
"Well, I think it's too big of a jump all at once," Ivan Webber, a resident of Caseyville said.
News 4's Russell Kinsaul spoke with Caseyville residents, some of whom are fine with where the money will go, but not the amount.
"I don't think its right," said Linda Mansfield, a Caseyville resident. "[They] shouldn't have to do that, that's a lot of money."
Last week the Board of Trustees voted for the property tax increase, but say they had no choice in the matter.
"We have a police pension fund that's in default. We're actually behind as far as being fully funded," Trustee Rick Casey Jr. said.
The village has been unable to contribute the state minimum that requires pension funds to be at least 90 percent funded over the past few years. The property tax hike will help Caseyville to catch up on the police pension fund, municipal employee retirement funds, and Social Security and Medicare funds.
"Why not start off with one percent?" Al Brown, a resident, asked. "Two percent, maybe. Next year if that's not enough, two percent."
The 17.5 percent increase will raise about $110,000 a year for the village. That percentage is expected to cost the owner of a $100,000 home an extra $70 a year.
Small year-to-year increases on taxes were avoided by city officials, now making a steep increase necessary.
If increased property taxes do not bump the pension funding level high enough within the next couple of years, the village may face action by the state.
Homeowners will see the property tax increase reflected on their bills in June.