HomeMy WebLinkAbout6.5 Waive the rules requiring two readings of an ordinance and adopt AN ORDINANCE AMENDING PROPERTY TAX RELIEF GRANT APPENDIX A, DIVISION II, CHAPTER 8 – VILLAGE GOVERNMENT MISCELLANEOUS PROVISIONS OF THE VILLAGE CODE OF MOUNT PROSPECT, ILLINOISM+awn �'xyt�lts�=e
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Subject Waive the rules requiring two readings of an ordinance and
adopt AN ORDINANCE AMENDING PROPERTY TAX RELIEF
GRANT APPENDIX A, DIVISION II, CHAPTER 8 — VILLAGE
GOVERNMENT MISCELLANEOUS PROVISIONS OF THE VILLAGE
CODE OF MOUNT PROSPECT, ILLINOIS
Meeting December 17, 2024 - REGULAR MEETING OF THE MOUNT
PROSPECT VILLAGE BOARD
Fiscal Impact (Y/N)
Dollar Amount
Budget Source
Category CONSENT AGENDA
Type Ordinance
Information
The Village Code Chapter 8 - Section 8.1402 provides for a Property Tax Relief Grant. This
section has been in effect since 1993 and provides qualified individual taxpayers with a
property tax grant of up to $100.
Discussion
The Property Tax Relief Grant Program is designed based on the federal poverty guidelines.
This grant is available to households having a gross annual income equal to or less than
$27,180 for one person or $36,620 for two or more persons. These amounts are based on
200% of the poverty guidelines issued and updated annually by the Department of Health and
Human Services. The rebate equals 50% of the Village's portion of the total annual Cook
County real estate tax bill up to $100. The amount is budgeted through the Village's annual
budget. Last year, the Village paid $2,733 in property tax relief grants against the budget of
$6,120. The $100 property tax relief grant was never updated and is the same as adopted in
the original Ordinance No. 4608 on December 21, 1993.
Based on analysis and usage, staff proposes increasing the property tax relief grant from $100
to $250 per household. All other rules and regulations will remain the same. The current
budget of $6,500 is enough to cover this expenditure for the year. The Village has received 33
applications, and 31 applications qualified. The total spending for the year will be around
$6,300 based on the proposed maximum amount of $250.
According to the CPI inflation calculations published by the US Bureau of Labor Statistics, $100
worth of buying power from January 1993 would require $221 in October 2024. In light of the
above, the staff recommends amending Section 8.1402 of the Village Code, increasing the
maximum grant amount from $100 to $250.
Alternatives
1. Waive the rules requiring two readings of an ordinance and adopt the attached
ordinance, amending the maximum amount available under Section 8.1402 of the
Village code for the property tax relief grant from $100 to $250.
2. Action at the discretion of the Village Board.
Staff Recommendation
Staff recommends waiving the rules requiring two readings of the attached ordinance and
adopting it, amending the maximum amount available under Section 8.1402 of the Village
code for the property tax relief grant from $100 to $250.
Attachments
Prop Tax Grant Ordinance
ORDINANCE NO.
AN ORDINANCE AMENDING PROPERTY TAX RELIEF GRANT
APPENDIX A, DIVISION II, CHAPTER 8 — VILLAGE GOVERNMENT MISCELLANEOUS
PROVISIONS OF THE VILLAGE CODE OF MOUNT PROSPECT, ILLINOIS
WHEREAS, the Village of Mount Prospect is a home rule municipality as defined by Article
VII, § 6 of the Illinois Constitution of 1970; and
WHEREAS, the President and Board of Trustees of the Village of Mount Prospect desire
to make certain amendments to the Village Code of Mount Prospect as set forth below; and
WHEREAS, pursuant to the authority granted under the Illinois Municipal Code and in
accordance with home rule authority granted to home rule municipalities, the President and Board
of Trustees of the Village of Mount Prospect approve the amendments set forth below.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: Appendix A, Section 8.1402, "Property Tax Relief Grant," to Division II,
"Fees, Rates and Taxes," to Chapter 8, "Village Government Miscellaneous Provisions," to the
Mount Prospect Village Code shall be amended to read in its entirety as follows:
Section 8.1402: PROPERTY TAX RELIEF GRANT:
Grant: $250.00 maximum.
SECTION THREE: that this Ordinance shall be in full force and effect from and after its
passage, approval and publication in pamphlet form in the manner provided by law.
AYES:
NAYS:
ABSENT:
PASSED and APPROVED this day of 2024.
Paul Wm. Hoefert, Mayor
ATTEST:
Karen M. Agoranos, Village Clerk