HomeMy WebLinkAboutOrd 6870 11/04/2026 Authorizing The Levy And Collection Of Taxes For The Corporate And Municipal Purposes Of The Village Of Mount Prospect For The Fiscal Year Beginning January 1, 2026 And Ending December 31, 2026ORDINANCE NO. 6870
AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR
THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT
PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2026, AND ENDING
DECEMBER 31, 2026
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
the 4th day of November, 2026
Published in pamphlet form by
authority of the corporate authorities
of the Village of Mount Prospect, Illinois
the 5th day of November, 2026.
ORDINANCE NO. 6870
AN ORDINANCE AUTHORIZING THE LEVY AND COLLECTION OF TAXES FOR
THE CORPORATE AND MUNICIPAL PURPOSES OF THE VILLAGE OF MOUNT
PROSPECT FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2026, AND ENDING
DECEMBER 31, 2026
NOW, THEREFORE, BE IT ORDAINED BY THE President and Board of Trustees of the
Village of Mount Prospect, Cook County, Illinois, as follows:
Section 1: That the sum of Twenty Nine Million One Hundred Fifty Two Thousand and
Six Hundred Sixty Dollars ($29,152,660), the same being the total amount to be levied of
budget appropriations heretofore made for the corporate and municipal purposes for the fiscal
year beginning January 1, 2026, and ending December 31, 2026, as approved by the President
and Board of Trustees of the Village of Mount Prospect, be and the same is hereby levied on
all taxable property within the Village of Mount Prospect according to the valuation of said
property as is, or shall be assessed or equalized by the State and County purposes for the current
year 2026.
Section 2: The budgetary appropriations having been made by the President and Board
of Trustees of the Village of Mount Prospect were passed and approved by Ordinance No.
6814 at a meeting hereof regularly convened and held in said Village of Mount Prospect,
Illinois, on the 19" day of November, 2025, and amended by Ordinance No. 6835 on the
16t" day of March, 2026, and by Ordinance No. 6845 on 21 S' day of April, 2026, and
thereafter duly published according to law, the various objects and purposes for said
budgetary appropriations are heretofore made and set forth under the column entitled
"Amount Budgeted", and the specific amount herein levied for each object and purpose is
set forth under the column entitled "Amount Levied", in Articles I through VI.
VILLAGE OF MOUNT PROSPECT, ILLINOIS
2026 Tax Levy
Amount Amount
Budgeted Levied
ARTICLE I -POLICE PROTECTION
Personal Services, Salaries & Wages
14,624,207.00
4,607.379
Employee Benefits
9,768,565.00
0
Other Employee Costs
211,275.00
0
Contractual Services
3,280,353.00
0
Utilities
22,300.00
0
Insurance
316,631.00
0
Commodities & Supplies
294,255.00
0
Office Equipment
34,475.00
0
Other Equipment
22,085.00
0
Building Improvements
0.00
0
Total Po lice Department
28,574,146
4,607,379
TOTAL BUDGET FOR POLICE PROTECTION 28_574.146
AMOUNT TO BE RAISED BY TAX LEVY 4,607379
ADD 2% FOR LOSS & COST OF COLLECTION 92'.,1148
TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PROTECTION 4.099.527
ARTICLE II -FIRE PROTECTION
Personal Services, Salaries & Wages
13,000,463.00
4,032,420
Employee Benefits
8,336,891.00
0
Other Employee Costs
211,845.00
0
Contractual Services
3,506,036.00
0
Utilities
17,000.00
0
Insurance
290,454.00
0
Commodities & Supplies
76,910.00
0
Building Improvements
2,500.00
0
Office Equipment
750.00
0
Other Equipment
224,385.00
0
Total Fire Department
25,667,234
4,032,420
TOTAL BUDGET FOR FIRE PROTECTION 25,667,234
AMOUNT TO BE RAISED BY TAX LEVY 4,032,420
ADD 2% FOR LOSS & COST OF COLLECTION 80,648
TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR FIRE PROTECTION 4,113,068
ARTICLE III - DEBT SERVICE
00 Debt Service
00 00 518 G.O. Bonds - Series 2016
Bond Principal 1,845,000 0
Interest Expense 112,500 0
Bank and Fiscal Fees 0 0
Total G.O. Bonds - Series 2016 1,957,500 0
ARTICLE III - DEBT SERVICE (continued)
00 00 565 G.O. Bonds - Series 2017 - TIF
Bond Principal 235,000 0
Interest Expense 118,769 0
Bank and Fiscal Fees 0 0
Total G.O. Bonds - Series 2017 353,769 0
VILLAGE OF MOUNT PROSPECT, ILLINOIS
2026 Tax Levy
00 00 565
G.O. Bonds - Series 2017 - Water
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2017
00 00 566
G.O. Bonds - Series 2018A - TIF
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2018A - TIF
00 00 566
G.O. Bonds - Series 2018A - Water
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2018A - Water
00 00 519
G.O. Bonds - Series 2018B - New
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2018B - New
00 00 519
G.O. Bonds - Series 2018B - Refi
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2018B - Refi
00 00 565
G.O. Bonds - Series 2019A - Water
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2017
00 00 565
G.O. Bonds - Series 2019B - TIF
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2017
00 00
G.O. Bomds - Series 2022 - Water/Sewer
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2022
ARTICLE III - DEBT SERVICE (continued)
00 00
G.O. Bomds - Series 2022E - Flood Control
Bond Principal
Interest Expense
Bank and Fiscal Fees
Total G.O. Bonds - Series 2022
Amount
Amount
Budgeted
Levied
230,000
0
108,731
0
0
0
33&731
0
340,000 0
200,869 0
0 0
540,869 0
225,000 0
123,750 0
0 0
348,750 0
0 0
1,444,250 0
0 0
1,444,250 0
165,000 0
70,250 0
0 0
235,250 0
405,000 0
246,300 0
0 0
651,300 0
320,000 0
215,600 0
0 0
535.600 0
0
0
0
0
725,000 0
154,560 0
0 PO
879,560 0
VILLAGE OF MOUNT PROSPECT, ILLINOIS
2026 Tax Levy
Amount Amount
l3udL,ewd Levied
TOTAL BUDGET FOR DEBT SERVICE 7,857,979
AMOUNT TO BE RAISED BY TAX LEVY 0
ADD 2% FOR LOSS & COST OF COLLECTION 0
TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR
DEBT SERVICE 0
ARTICLE IV - POLICE PENSION
00 Police Pensions
Annual Pension Costs 6,864,627 5,044,098
Total Police Pensions 6,864,627 5,044,098
TOTAL BUDGET FOR POLICE PENSION 6,864,627
AMOUNT TO BE RAISED BY TAX LEVY
ADD 2% FOR LOSS & COST OF COLLECTION 100,882
TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR POLICE PENSION 5, l44,980
ARTICLE V - FIREFIGHTERS' PENSION
00 Fire Pensions
Annual Pension Costs 5,580,777 3,872,363
Total Firefighters' Pensions 5,580,777 3,872,363
TOTAL BUDGET FOR FIREFIGHTERS' PENSION 5.580,777
AMOUNT TO BE RAISED BY TAX LEVY 3,872363
ADD 2% FOR LOSS & COST OF COLLECTION 77.447
TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR
FIREFIGHTERS' PENSION 3,949,M0
ARTICLE VI - MOUNT PROSPECT LIBRARY
90 Mount Prospect Library
Library Expenditures 22,789,388 11,596,400
Bond Principal 0 0
Interest Expense/Fiscal Charges 0 0
Total Library Services 22,789,388 11,596,400
TOTAL BUDGET FOR MOUNT PROSPECT LIBRARY 22,789,388
AMOUNT TO BE RAISED BY TAX LEVY - Library Expenditures 11,596,400
AMOUNT TO BE RAISED BY TAX LEVY - Bond Principal and Interest 0
ADD 2% FOR LOSS & COST OF COLLECTION 231,928
TOTAL AMOUNT TO BE RAISED BY TAX LEVY FOR
MOUNT PROSPECT LIBRARY 11,828,328_
Total Levy w/o L&C 29,152,660
Total Levy w/ L&C 29,735,713
VILLAGE OF MOUNT PROSPECT, ILLINOIS
2026 TAX LEVY SUMMARY
Amount
Total
to be Raised
Amount
Tax Levy
Amount
by
for Loss
Incl. Loss
Article
Fund
Budgeted
Tax Levy
and Cost
and Cost
I
Police Protection
$ 28,574,146
4,607,379
92,148
4.699.527
11
Fire Protection
25,667,234
4,032,420
80,648
4,113,068
I11
Debt Service
7,857,879
0
0
01
IV
Police Pension
6,864,627
5,044,098
100,882
511441980
V
Firefighters'3,949,8101
Pension
V Village Totals
74,544,663
17,556.260
351.125
17 907,3851
VI
Mount Prospect Library
Library Services
22,789,388
11,596,400
231,928
11,828,328
Library Debt Service
Library Totals
22,789,388
11,596,400
231,928
11,828,328
Village and Library Totals
$ 97,334,051
29,152,660
583,053
29,735J13
Section 3: The sum of $600,000 is budgeted to be received from personal property
replacement tax revenue during the fiscal year commencing January 1, 2026, and ending
December 31, 2026, and has been included herein as funds to be derived from sources other
than property taxes supporting expenses related to police and fire protection, general obligation
bonds and interest, public safety pensions and library services.
Section 4: That the County Clerk is directed to add 2% to the requested tax levy as a provision
for loss and cost.
Section 5: That the Village Clerk of the Village of Mount Prospect is hereby directed to
certify a copy of this Ordinance and is hereby authorized and directed to file a copy of the
same with the County Clerk of Cook County, Illinois, within the time specified by law.
Section 6: That, if any part or parts of this Ordinance shall be held to be unconstitutional
or otherwise invalid, such constitutionality or invalidity, shall not affect the validity of the
remaining parts of this Ordinance. The President and Board of Trustees of the Village of
Mount Prospect hereby declares that they would have passed the remaining parts of the
Ordinance of they had known that such parts or parts thereof would be declared
unconstitutional or otherwise invalid.
Section 7: That this Ordinance shall be in full force and effect from and after its passage,
approval, publication in pamphlet form and recording, as provided by law.
AYES: Dante, DiPrima, Gens, Grossi, Matuszak, Saccotelli
NAYES: None
ABSENT: None
PASSED and APPROVED this 4th
ATTEST:
/ X4,
Karen A,goraiiA Village Clerk
day of November 2026.
Hoetert, Mayor