HomeMy WebLinkAboutRes 45-90 11/06/1990 RESOLUTION NO. 45-qa
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, 1990 AND ENDING APRIL 30, 1991.
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 notice of hearing; and
WHEREAS, on the 19th day of April, 1990 the Village of Mount Prospect
adopted Ordinance No. 4175 approving the Annual Budget for the fiscal year from
May 1, 1990 to April 30, 1991, 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
$8,352,755 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 $386,612 over the tax levy
of $7,966,143 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, 1990 and ending April 30, 1991 constitutes
a tax increase of approximately 4.9% 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 levied 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 May 1, 1990 and ending April 30,
1991, for general corporate and special municipal purposes, is estimated to be
$8,352,755.
SECTION 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,
1990 and ending April 30, 1991 constitutes a proposed tax levy of approximately
10419% of the property taxes extended upon the tax levy for the preceding year
ending April 30, 1990, an aggregate tax levy increase of approximately 4.9%.
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 Mount Prospect Senior Center, 50 South Emerson Street,
Mount Prospect, Illinois at 7:30 p.m. o~clock on Tuesday, December 4, 1990.
SECTION 4: 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 November 20, 1990 nor later than November 27, 1990, 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 endingApril 30,
1990; (2) the amount of the proposed levy, exclusive of election costs and debt
service, for the current year beginning May 1, 1990; (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/Sth 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 6th DAY OF NOVEMBER, 1990.
AYES: Arthur, Busse, Corcoran, Floros, Van Geem, Wattenberg
NAYS: None
ABSENT: None
MAYOR
ATTEST:
VILLAGE CLERK
Schedule A
VILLAGE OF MOUNT PROSPECT
COMPARATIVE PROPERTY TAX LEVIES
FOR THE TAX YEARS 1990 AND 1989
1990 1989 Percentage
Levy Levy Change
Village Services
General Corporate Purposes $3,347,500 $3,141,500 6.6%
Garbage Collection 1,751,000 1,689,200 3.7%
Capital Improvements 412,000 412,000
Employee Pensions 731,300 726,150 0.7%
Bonds & Interest 815,733 825,067 -1.1%
Total Village Services $7,057,533 $6.793.917 3.9%
Library Services:
Library Operation $1,707,534 $1,634,609 4.5%
Maintenance & Repair 148,475 142,140 4.5%
Employee Pensions 224,952 190,550 18.0%
Audit & Insurance 29~994 29,994
Total Library Services $2,110~955 $1,997,293 5.7%
Total Village and Library Tax Levy $9,168,488 $8,791,210 4.3%
Less Bonds & Interest < 815~733> < 825,067> -1.1%
Total Village and Library
Less Bonds & Interest $8,352~755 $7~966,143 4.9%
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 May 1, 1990 - April 30, 1991 will be held on December 4,
1990 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 John Fulton Dixon, Village Manager, 100 South Emerson
Street, Mount Prospect, IL, 708 392-6000.
II. The corporate and special purpose property taxes extended for May 1, 1989
April 30, 1990 were $7,966,143. The proposed corporate and special purpose
property taxes to be levied for May 1, 1990 - April 30, 1991 are $8,352,755.
This represents a 4.9% increase over the previous year.
III. The property taxes extended for debt service for May 1, 1989 - April 30, 1990
were $825,067. The estimated property taxes to be levied for debt service for
May 1, 1990 - April 30, 1991 are $815,733. This represents a 1.1% decrease over
the previous year.
IV. The total property taxes extended for May 1, 1989 April 30, 1990 were
$8,791,210. The estimated property taxes to be levied for May 1, 1990 - April
30, 1991 are $9,168,488. This represents a 4.3% 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 21st day of November, 1990 /s/ Carol A. Fields
Village Clerk