HomeMy WebLinkAboutRes 30-96 11/19/1996 RESOLUTION NO. 30-96
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 JANUARY 1, 1996 AND ENDING DECEMBER 31, 1996.
WHEREAS, pursuant to Public Act 82-102 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 hear'rog regarding the proposed tax levy, pursuant to the publication of a proper notice
of hearing; and
WHEREAS, the Village of Mount Prospect has traditionally held a public hearing concerning its
proposed tax levy and published notice of that hearing regardless of whether the aggregate amount of the
proposed tax levy exceeds 105% of the amount of taxes extended in the preceding year; and
WHEREAS, on the 19th day of December, 1995 the Village of Mount Prospect adopted
Ordinance No. 4770 approving the Budget for the fiscal year from January 1, 1996 to December 31,
1996, 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 $10,815,466 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 $320,866 over the tax levy of $10,494,600 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 January 1, 1996 and ending December 31, 1996 constitutes a tax increase of approximately
3.1% 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 Board does hereby determine that the aggregate amount of money to be levied
(exclusive of any amounts leviad 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 January 1, 1996 and ending
December 31, 1996, for general corporate and special municipal purposes, is estimated to be
$10,815,466.
SECTION 2: The amount herein above determined to be the aggregate tax levy upon all taxable
property within the Village for the year commencing January 1, 1996 and ending December 31, 1996
constitutes a proposed tax levy of approximately 103.1% of the property taxes extended upon the tax levy
for the preceding year ending December 31, 1995, an aggregate tax levy increase of approximately 3.1%.
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 Mourn Prospect Senior Center, 50 South
Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock on Tuesday, December 17, 1996.
SECTION 4: The Village Clerk is herein authorized and directed to publish a notice of said
public hearing in the Mourn Prosoect JOURNAL newspaper by no sooner than December 3, 1996 nor
later than December 10, 1996, 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 Village
for the preceding year ending December 31, 1995; (2) the amount of the proposed levy, exclusive of
election costs and debt service, for the current year beginning January 1, 1996; 0) 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 1/8th 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.
SECTION 5: This Resolution shall be in full force and effect upon its passage and approval in
accordance with law.
PASSED AND APPROVED THIS 19th DAY OF NOVEMBER, 1996.
AYES: Clowes, Corcoran, Hoefert, duracek, Wilks
NAYS: Hendricks
ABSENT: None
ATTEST:
VILLAGE CLERK
Schedule A
VILLAGE OF MOUNT PROSPECT
Comparative Property Tax Levies
For the Tax Years 19~3 and 199{$
1995 1996 Percentage
L~Vy Lev'/ Change
Village Services:
General Corporate Purposes $4,712,250 $4,802,166 1.9%
Garbage Collection 2,209,350 2,379,300 7.7%
Employee Pensions 721.000 824.000 14.3 %
Sub-Totals $7,642,600 $8,005,466 4.7 %
Bonds & Interest 824,511 715.658 (13.2%)
Total Village Services $8.467.111 $8,721,124 3.0%
Library Services:
Library Operation $2,359,860 $2,305,218 {2.3%)
Maintenance & Repair 205,140 197,782 {3.6%)
Employee Pensions 250,000 270,000 (8.0%)
Audit & Insurance 37.000 37.000
Total Library Services $2.852.000 $2.810.000 (1.5%)
Total Village and Library Tax Levy $11,319,111 $11,531,124 1.9%
Less Bonds & Interest ,t 824.511) (715.658) (13.2%)
Total Village and Library
Less Bonds & Interest ~1Q,494.600 ~ 3.1%
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 January 1, 1996 through December 31, 1996 will be held on December 17, 1996 at 7:30 p.m.
at the Mount Prospect Senior Center, 50 South Emerson SWeet, 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,
(847) 392-6000.
II. The corporate and special purpose property taxes extended for May 1, 1995 - December 31, 1995
were $10,494,600, exclusive of election costs and debt service. The proposed corporate and special
purpose proper~y taxes to be levied (exclusive of election costs and debt service) for January 1, 1996
through December 31, 1996 are $10,815,466. This represents a 3.1% increase over the previous
year.
II1. The property taxes extended for debt service for May 1, 1995 - December 31, 1995 were $824,511.
The estimated property taxes to be levied for debt service for January 1, 1996 - December 31, 1996
are $715,658. This represents a decrease of 13.2% over the previous year.
IV. The total property taxes extended for May 1, 1995 - December 31, 1995 were $11,319,111. The
estimated property taxes to be levied for January 1, 1996 - December 31, 1996 are $11,531,124.
This represems a 1.9% 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 6th day of December, 1996 /s/Carol A. Fields
Village Clerk