𝗦𝗵𝗼𝗿𝗲𝘄𝗼𝗼𝗱: 𝟱𝟮𝟬 𝗛𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿 𝗛𝗼𝘂𝘀𝗲𝗵𝗼𝗹𝗱𝘀 𝗔𝗿𝗲 𝗟𝗼𝘄 𝗜𝗻𝗰𝗼𝗺𝗲

I spent considerable time reviewing Shorewood’s 220-page 𝐶𝑜𝑚𝑝𝑟𝑒ℎ𝑒𝑛𝑠𝑖𝑣𝑒 𝐻𝑜𝑢𝑠𝑖𝑛𝑔 𝑀𝑎𝑟𝑘𝑒𝑡 𝑆𝑡𝑢𝑑𝑦 𝑎𝑛𝑑 𝑁𝑒𝑒𝑑𝑠 𝐴𝑛𝑎𝑙𝑦𝑠𝑖𝑠, dated February 13, 2020. It’s a data-rich document, and this post—and the next—will focus on its findings.

Shorewood is often described as a wealthy community. That may be true when looking at average income, but averages can obscure the real distribution of wealth. According to the report, 𝟱𝟮𝟬 𝗵𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿 𝗵𝗼𝘂𝘀𝗲𝗵𝗼𝗹𝗱𝘀 𝗶𝗻 𝗦𝗵𝗼𝗿𝗲𝘄𝗼𝗼𝗱 𝗮𝗿𝗲 𝗹𝗼𝘄 𝗶𝗻𝗰𝗼𝗺𝗲. These are not renters—they own their homes. That represents 𝟭𝟴.𝟯% 𝗼𝗳 𝗮𝗹𝗹 𝗵𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿 𝗵𝗼𝘂𝘀𝗲𝗵𝗼𝗹𝗱𝘀. The percentage among renter households is even higher.

Some in the village seem to believe that homeowners will accept any tax increase placed before them. Legally, we have little choice. But we can speak up, share our concerns, and strongly oppose increases when practical alternatives exist.

One such alternative is the TIF being used to develop the parking lot. These funds could be returned to the taxing authorities. By our estimate, the refunds would be:

• 𝗩𝗶𝗹𝗹𝗮𝗴𝗲: $459,000
• 𝗦𝗰𝗵𝗼𝗼𝗹𝘀: $935,000
• 𝗠𝗶𝗹𝘄𝗮𝘂𝗸𝗲𝗲 𝗖𝗼𝘂𝗻𝘁𝘆: $238,000
• 𝗠𝗔𝗧𝗖: $68,000

When those 520 Shorewood households receive their next property-tax bills, the increases will cause real hardship. Groceries will be cut back, thermostats turned down, and necessary car repairs delayed. Tough choices will be made.

I hope our village trustees recognize that conditions have changed since a few years ago, when our local economic outlook was far less certain than it is today. 𝗧𝗵𝗲 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗽𝗿𝗼𝗽𝗼𝘀𝗲𝗱 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝘁𝗼𝗼 𝗳𝗲𝘄 𝗮𝘁 𝘁𝗵𝗲 𝗲𝘅𝗽𝗲𝗻𝘀𝗲 𝗼𝗳 𝘁𝗼𝗼 𝗺𝗮𝗻𝘆.

There is strength in numbers. I encourage you to ask neighbors to sign up for updates at http://affordableshorewood.org...