HomeMy WebLinkAboutRes 46-93 11/30/1993 RESOLUTION NO. 46-93
A RESOLUTION TO DETERMINE THE AMOUNTS OF MONEY ESTIMATED TO
BE NECESSARY TO BE RAISED BY TAXATION BY THE VILLAGE OF MOUNT
PROSPECT UPON THE TAXABLE PROPERTY WITHIN THE VILLAGE FOR THE
YEAR COMMENCING MAY 1, 1993 AND ENDING APRIL 30, 1994.
WHEREAS, pursuant to Public Act 82-I02 there has been enacted into law, effective July 29,
1981, certain legislation entitled "The Truth in Taxation Act," as amended; and
WHEREAS, pursuant to said Act any taxing body which proposes to adopt a tax levy in an
aggregate amount of more than 105% of the amount of taxes extended on the tax levy in the preceding
year on taxable property within such taxing body is required to make a determination as to such amounts
to be levied, not less than twenty (20) days prior to the adoption of the tax levy, and is further required
to hold a public hearing regarding the proposed tax levy; pursuant to the publication of a proper notice
of hearing; and
WHEREAS, on the 21st day of April, 1993 the Village of Mount Prospect adopted Ordinance
No. 4538 approving the Annual Budget for the fiscal year from May 1, 1993 to April 30, 1994, covering
the cost, expenses and liabilities of all general corporate and special municipal purposes and activities to
be undertaken during the said fiscal year, and
WHEREAS, pursuant to said Budget, the Village of Mount Prospect anticipates and determines
that it shall require an aggregate tax levy of $9,650,576 exclusive of election costs and debt service, as
more particularly set forth in attached Schedule A, upon all the taxable property within the Village, which
proposed tax levy is an increase of $591,679 over the tax levy of $9,058,897 for the preceding fiscal year
as extended; and
WHEREAS, such proposed tax levy upon all the taxable property within the Village for the year
beginning May 1, 1993 and ending April 30, 1994 constitutes a tax increase of approximately 6.5% and
it is deemed to be in the public interest that a public hearing be held with respect to the various aggregate
tax levy amounts, as hereinafter set forth:
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES
OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION 1.: This Boarddoes hereby determine that the aggregate amount of money to be levied
(exclusive of any amounts levied for election costs and debt service) as necessary to be raised by taxation
upon all the taxable property within this Village for the year commencing May 1, 1993 and ending
April 30, 1994, for general corporate and special municipal purposes, is estimated to be $9,650,576.
SECTION 2: The amount herein above determined to be the aggregate tax levy upon all taxable
property within the Village for the year commencing May 1, 1993 and ending April 30, 1994 constitutes
a proposed tax levy of approximately 105.9% of the property taxes extended upon the tax levy for the
preceding year ending April 30, 1993, an aggregate tax levy increase of approximately 5.9%.
SECTION 3: A public hearing with respect to the intent of the President and Board of Trustees
of this Village to adopt a tax levy ordinance to establish and levy the amounts determined herein to be
raised by taxation, shall be held in the Board Room in the Mount Prospect Senior Center, 50 South
Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock on Tuesday, December 21, 1993.
SECTION 4: The Village Clerk is herein authorized and directed to publish a notice of said
public hearing in the Mount Prospect JOURNAL newspaper by no sooner than December 8, 1993 nor
later than December 14, 1993, which notice shall be substantially as set forth in the attached Exhibit A
and shall state in plain and simple language (1) the amount of property taxes, exclusive of election costs
and debt service, extended or estimated to be extended upon all the taxable property within the VHlage
for the preceding year ending April 30, 1993; (2) the amount of the proposed levy, exclusive of election
costs and debt service, for the current year beginning May 1, 1993; (3) the percentage increase or
decrease in the amount of taxes to be levied; and (4) the date, time and place of the public hearing
concerning the proposed tax levy. The form of notice shall be no less than 1/Sth page in size and the
smallest type used shall be twelve point and shall be enclosed in a black border no less than 1/4th inch
wide. The notice shall not be placed in that portion of the newspaper where legal notices and classified
advertisements appear.
SECTION 5: This Resolution shall be in foil force and effect upon its passage and approval in
accordance with law.
PASSED AND APPROVED THIS 30th DAY OF NOVEMBER, 1993.
AYES: Corcoran, Hoefert, Skowron, Wilks, Farley
NAYS: Clowes, Hendricks
ABSENT: None
~ MAYO~. ~
ATII:/ST: ,
VILLAGE CLERK
Exhibit A
NOTICE OF PROPOSED PROPERTY TAX INCREASE FOR VILLAGE OF MOUNT PROSPECT
I. A public hearing to approve a proposed property tax levy increase for the Village of Mount Prospect
for May 1, 1993 - April 30, 1994 will be held on December 21, 1993 at 7:30 p.m. at the Mount
Prospect Senior Center, 50 South Emerson Street, Mount Prospect, IL.
Any person desiring to appear at the public hearing and present testimony to the taxing district may
contact Michael E. Janonis, Village Manager, 100 South Emerson Street, Mount Prospect, IL,
(708) 392-6000.
IL The corporate and special purpose property taxes extended for May 1, 1992 - April 30, 1993 were
$9,058,897, exclusive of election costs and debt service. The proposed corporate and special
purpose property taxes to be levied (exclusive of election costs and debt service) for May 1, 1993 -
April 30, 1994 are $9,650,576. This represents a 6.5% increase over the previous year.
III. The property taxes extended for debt service for May 1, 1992 - April 30, 1993 were $975,759. The
estimated property taxes to be levied for debt service for May 1, 1993 - April 30, 1994 are
$975,759. This represents no increase over the previous year.
IV. The total property taxes extended for May 1, 1992 - April 30, 1993 were $10,034,656. The
estimated property taxes to be levied for May 1, 1993 - April 30, 1994 are $10,626,335. This
represents a 5.9% increase over the previous year.
At said public hearing the President and Board of Trustees shall explain the reasons for the proposed increase
in the tax levy and shall permit all persons desiring to be heard an opportunity to comment and present
testimony thereon.
Dated this 10th day of December, 1993 /s/Carol A. Fields
Village Clerk
Schedule A
VILLAGE OF MOUNT PROSPECT
Comparative Property Tax Levies
For the Tax Years 1993 and 1992
1993 1992 Percentage
Levy_ Levy_ Chan~¢
Village Services:
General Corporate Purposes $4,514,825 $4,515,829
Garbage Collection 2,188,750 2,060,000 6.3%
Employee Pensions 412.000 154,500 166.7%
Sub-Totals $7,115,575 $6,730,329 5.7 %
Bonds & Interest 975.759 975.759
Total Village Services $8.091.334 $7.706.088 5.0%
Library Services:
Library Operation $2,082,261 $1,900,220 9.6%
Maintenance & Repair 182,740 158,350 15.4%
Employee Pensions 235,000 234,999
Audit & Insurance 35.000 34,999
Total Library Services $2.535.001 $2.328.568 8.9%
Total Village and Library Tax Levy $10,626,335 $10,034,656 5.9%
Less Bonds & Interest (975.759~ (975.759)
Total Village and Library
Less Bonds & Interest $9.650.5715 $9.058.87_.__~7 6.5%