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Home My WebLink AboutRes 41-84 08/07/1984 n RESOLUTION NO. 41-84 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~ 1984 AND ENDING APRIL 30~ 1985 WHEREAS, pursuant to Public Act 82-102 there has been enacted into law~ effective July 29, 1981~ certain legislation entitled liThe Truth in Taxation Actll~ 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 17th day of Aþril ~ 1984 the Village of Mount Prospect adopted Resolution 15-84 approving the Annual Budget for the fiscal year from May 1~ 1984 to April 30, 1985, 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 $5,265,875.00 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 $12,369.00 over the tax levy 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, 1984 and ending April 30~ 1985 constitutes a tax increase of approximately 0.2% 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; and WHEREAS~ in addition to the tax levy upon all the taxable property within the Village~ the Village of Mount Prospect anticipates and determines that it shall require a tax levy of $932,665 exclusive of election costs and debt service~ upon the taxable property of Special Service Area No.5 within the Village~ which proposed tax levy is an increase of $262~107 over the tax levy of the preceding fiscal year as extended; and WHEREAS~ such proposed Special Service Area No.5 tax levy for the year beginning May 1~ 1984 and ending April 30~ 1985 constitutes a tax increase of approximately 39.1% and it is deemed to be in the public interest that a public hearing be held with respect to the various 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 Board does hereby determine that the aggregate amount of money to be levied (exclusive ~f any amounts levied for election costs and debt service) as necessary to be raised by taxa- tion upon all the taxable property within this Village for the year' commencing May 1~ 1984 and ending April 30~ 1985, for general corpo- rate and special municipal purposes~ is estimated to be $5,265~875.00. . SECTION 2: The amount herein above determined to be the aggre- gate tax levy upon all taxable property within the Village for the year commencing May 1~ 1984 and ending April 30, 1985 constitutes a proposed tax levy of approximately 100.2~ oT the property taxes extended upon the tax levy for the preceding year ending April 30~ 1984; an aggregate tax levy increase of àpproxi~ately 0.2%. SECTION 3: This Board does hereby determine that the aggregate amount of money to be levied (exclusive of any a~ounts levied for election costs and debt service) as necessary to be raised by taxation upon the taxable property within Special Service Area No.5 for the year commencing May 1~ 1984 and ending ~pril 30, 1985, for special municipal purposes, is estimated to be S932~655.00. 2 SECTION 4: The amounts herein above determined to be the aggregate tax levy upon the taxable property of Special Service Area No.5 within the Village for the year commencing May l~ 1984 and ending April 30~ 1985 constitute a proposed tax levy of approxi- mately 139.1% of the property taxes extended upon the tax levy for preceding year ending April 30~ 1984; an aggregate tax levy increase of approximately 39.1%. SECTION 5: 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 Public Safety Building~ 112 E. Northwest Highway, Mount Prospect, Illinois at 8:00 p.m. o'clock C.D.T. on Tuesday, August 21, 1984. SECTION 6: The Village Clerk is herein authorized and directed to publish a notice of said. public hearing in the Mount Prospect HERALD newspaper by no sooner than August 7, 1984 nor later than August 14, 1984, which notice shall be substantially 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 on behalf of the Village for the preceding year ending April 30, 1984; (2) the amount of the proposed levy, exclusive of election costs and debt service, for the current year beginning May 1, 1984; (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 pro- posed tax levy. The form of notice shall be no less than 1/8th 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. 3 f"'\ SECTION 7: This Resolution shall be in full force and effect upon its passage and approval in accordance with law. PASSED AND APPROVED THIS 7th DAY OF AUGUST~ 1984. AYES: NAYS: ARTHUR, FLOROS, MURAUSKIS, VAN GEEM, WATTENBERG NONE ABSENT: FARLEY /l? f:< L4<~ /I ~ MAYOR ATTEST: ~~ J ¿Jd<v VILLAGE CLERK 4 i bit A VILLAGE OF MOUNT PROSPECT NOTICE OF PUBLIC TAX LEVY NOTICE IS HEREBY GIVEN, that a public hearing shall be held in the Board Room of the Public Safety Building, 112 East Northwest Highway, Mount Prospect, Illinois at 8:00 p.m. o'clock C.D.T. on August 21, 1984~ regarding the action of the President and Board of Trustees of the Village of Mount Prospect to adopt a Tax Levy Ordinance upon all the taxable property within the Village for the fiscal year commencing May 1, 1984~ and ending April 30, 1985, in the aggregate amount of $5,265~875 (exclusive of election costs and debt service) which levy constitutes an increase of 0.2% over that tax levy extension of $5,253,506 levied by the Village of Mount Prospect for the preceding tax year. In addition to the Tax Levy upon all the taxable property within the Village~ action will be taken upon a Tax Levy Ordinance upon the taxable property in Special Service Area No.5, commonly known as the Lake Michigan Water Project. The tax levy for Special Service Area No.5, exclusive of election costs and debt service~ will be $932~665, which levy constitutes an increase of 39.1% over the tax levy extension of $670,558 levied for the preceding tax 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 9th day of August~ 1984 Isl Carol A. Fields Village Clerk f'~ , ' Schedule A V ILL A Gtt}~'¿t1ÔnN r' '~' RO'Sß'Êtr" " COMPARATIVE PROPERTY TAX LEVIES FOR THE TAX YEARS 1983 AND 1984 Village Tax Levy Village Services: General Corporate Purposes Garbage Collection Capital Improvements Employee Pensions Debt Service Total Village Services Library Services: Library Operation Employee Pensions Total Library Services Total Village Tax Levy Less Debt Service . Village Levy Less Debt Service Special Service Area Tax Levies: Special Service Area No.1 Prospect Meadows Water Debt Service Special Service Area No.2 Golf View Estates (Blackhawk) Water Debt Service Special Service Area No.3 Busse/Wille Street Improvements Debt Service Special Service Area No.4 Busse/Wille Street Improvements Debt Service Special Service Area No.5 Lake Michigan Water Debt Service Construction Total Special Service Area Levies Total Village Tax Levies 1983 Levy 1984 Levy Percentage Change $1,957,000 1,081,500 103,000 944~192 511~035 $4,596,727 $1~854,000 1,169,050 206,000 836,875 482,090 $4~548,015 - 5.3% + 8.1 +100.0 - 11.4 - 5.7 - 1.1% $1~090,564 $1 ~ 117 ,550 + 2.5% 77~250 82~400 + 6.7 $1,167,814 $1~199~950 + 2.8% $5,764~541 $5,747,965 - 0.3% (511 ,035) (482~090) - 5.7 $5,253,506 . . $5,265,875 + 0.2% $ $ 23~467 23,930 + 2.0% 26~486 30~975 + 16.9 4~919 4,919 0.0 9~838 9~838 0.0 271~400 236,250 - 13.0 670~558 932)665 + 39.1 941,958 1,168,915 + 24.1 $1,006,668 $1,238,577 + 23.0% $6,771,209 $6~986,542 3.2%