HomeMy WebLinkAboutRes 38-94 11/15/1994 RESOLUTION NO. $8--94
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, 1994 AND ENDING APRIL 30, 1995.
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 hearing regarding the proposed tax levy, pursuant to the publication of a proper notic~
of hearing; and
WHEREAS, on the 19th day of April, 1994 the Village of Mount Prospect adopted Ordinance
No. 4636 approving the Annual Budget for the fiscal year from May 1, 1994 to April 30, 1995, covering
the cost, expenses and liabilities of all general corporate and special municipal purposes and activities to
be undertaken during the said riscal year, and
WHEREAS, pursuant to said Budget, the Village of Mount Prospect anticipates and determines
that it shall require an aggregate tax levy of $9,762,750 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 $287,276 over the tax levy of $9,475,474 for the preceding fiscal year
as extended; and
WHEREAS, such proposed tax levy upon ail the taxable property within the Village for the year
beginning May 1, 1994 and ending April 30, 1995 constitutes a tax increase of approximately 3.0% and
it is deemed to be in the public interest that a public hearing be held with raspect 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 levied for election costs and debt service) as necessary to be raised by taxation
upon ail the taxable property within this Village for the year commencing May 1, 1994 and ending
April 30, 1995, for general corporate and special municipal purposes, is estimated to be $9,762,750.
~ECTION 2: The amount herein above determined to be the aggregate tax levy upon all taxable
property within the Village for the year commencing May 1, 1994 and ending April 30, 1995 constitutes
a proposed tax levy of approximately 103.0% of the property taxes extended upon the tax levy for the
preceding year ending April 30, 1994, an aggregate tax levy increase of approximately 3.0%.
SECTION 3: A public hearing with respect to the intent of the President and Board of Trustecs
of this Village to adopt a tax levy ordinance to establish and levy the amounts determined herein to be
raised by taxation, shall be held in the Board Room in the Mount Prospect Senior Center, 50 South
Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock on Tuesday, December 20, 1994.
SECTION 4: The Village Clerk is herein authorized and directed to publish a notice of said
public hearing in the Mount Prosoect JOURNAL newspaper by no sooner than December 7, 1994 nor
later than December 13, 1994, which notice shall be substantially as set forth in the attached Exhibit A
and shall state in plain and simple language (1) the amount of property taxes, exclusive of election costs
and debt service, extended or estimated to be extended upon all the taxable property within the Village
for the preceding year ending April 30, 1994; (2) the amount of the proposed levy, exclusive of election
costs and debt service, for the current year beginning May 1, 1994; (3) the percentage increase or
decrease in the amount of taxes to be levied; and (4) the date, time and place of the public hearing
concerning the proposed tax levy. The form of notice shall be no less than 1/$th page in size end 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 15th DAY OF NOVEMBER, 1994.
A¥1~S: Clowes, Hoefert, Skowron, Wilks
NAYS: Hendricks
ABSENT: Corcoran
C~'" / MAYOR / ~/
ATI'~ST: //
VILLAGE CLERK
Sch~clule A
VILLAGE OF MOUNT PROSPECT
Comparative Property Tax Levies
For the Tax Years 1993 and 1994
1993 1994 Percentage
Le~_ Levy_ Chaneo
Village Services:
General Corporate Purposes $4,514,824 $4,532,000 0.4%
Garbage Collection 2,013,650 2,085,750 3.6%
Employee Pensions 412.000 515.000 25.0%
Sub-Totals $6,940,474 $7,132,750 2.8%
Bonds & Interest 975.758 1.008.181 3.3 %
Total Village Services $7.916.232 $8.140.931 2.8%
Library Services:
Library Operation $2,082,261 $2,165,435 4.0%
Maintenance & Repair 182,740 184,565 1.0%
Employee Pensions 234,999 245,000 4.3 %
Audit & Insurance 35.000 35.000
Total Library Services $2.535.000 $2.630.000 3.7%
Total Village and Library Tax Levy $10,451,232 $10,770,931 3.1%
Less Bonds & Interest (975.758) {1.008,181~ (3.3)%
Total Village and Library
Less Bonds & Interest ~ $9.762.750 3.0%
Exhibit A
NOTICE OF PROPOSED PROPERTY TAX INCREASE FOR VILLAGE OF MOUNT PROSPECT
I. A public hearing to approve a proposed propecoy tax levy increase for the Village of Mount Prospect
for May 1, 1994 - April 30, 1995 will be held on December 20, 1994 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.
II. The corporate and special purpose property taxes extended for May 1, 1993 - April'30, 1994 were
$9,475,474, 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, 1994 -
April 30, 1995 are $9,762,750. This represents a 3.0% increase over the previous year.
IlL The property taxes extended for debt service for May I, 1993 - April 30, 1994 were $975,758. The
estimated property taxes to be levied for debt service for May 1, 1994 - April 30, 1995 are
$1,008,181. This represents a 3.3% increase over the previous year.
IV. The total property taxes extended for May 1, 1993 - April 30, 1994 were $10,451,232. The
estimated property taxes to be levied for May 1, 1994 - April 30, 1995 are $10,770,931. This
represents a 3.1% 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 9th day of December, 1994 /s/Carol A. Fields
Village Clerk