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HomeMy WebLinkAboutRes 28-86 08/05/1986 RESOLUTION NO. 28-86 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 1s 1986 AND ENDING APRIL 30s 1987. WHEREAS, pursuant to Public Act 82-102 there has been enacted into law, effective July 29, 1981 s certain legislation entitled liThe 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 levys pursuant to the publication of a proper notice of hearing; and WHEREAS, on the 15th day of April, 1986 the Village of Mount Prospect adopted Ordinance No. 3638 approving the Annual Budget for the fiscal year from May 1,1986 to April 30,1987, 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 $6,056,555 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 $532,253 over the tax levy of $5,524,302 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, 1986 and ending April 30, 1987 constitutes a tax increase of approximately 9.6% 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; and WHEREAS, in addition to the tax levy upon all the taxable property within the Village, the Village of Mount Prospect anticipates and determines that it shall require a tax levy of $1,107,250 exclusive of election costs and debt service, upon the taxable property of Special Service Area No.5 within the Village, which proposed tax levy is an increase of $77,250 over the tax levy of $1,030,000 of the preceding fiscal year as extended; and WHEREAS, such proposed Special Service Area No.5 tax levy for the year beginning May 1,1986 and ending April 30,1987 constitutes a tax increase of approximately 7.5% and it is deemed to be in the public interest that a public hearing be held with respect to the various 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 1,1986 and ending April 30, 1987, for general corporate and special municipal purposes, is estimated to be $6,056,555. 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, 1986 and ending April 30, 1987 constitutes a proposed tax levy of approximately 109.6% of the property taxes extended upon the tax levy for the preceding year ending April 30, 1986; an aggregate tax levy increase of approximately 9.6%. SECTION 3: 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 the taxable property within Special Service Area No.5 for the year commencing May 1, 1986 and ending April 30, 1987, for special municipal purposes, is estimated to be $1,107,250. SECTION 4: The amounts herein above determined to be the aggregate tax levy upon the taxable property of Special Service Area No.5 within the Village for the year commencing May 1, 1986 and ending April 30, 1987 constitutes a proposed tax levy of approximately 107.5% of the property taxes extended upon the tax levy for preceding year ending April 30, 1986; an aggregate tax levy increase of approximately 7.5%. SECTION 5: A public hearing with respect to the intent of the President and Board of Trustees of this Village to adopt tax levy ordinances to establish and levy the amounts determined herein to be raised by taxation1 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 C.D.T. on Tuesday, September 2, 1986. SECTION 6: 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 August 19,1986 nor later than August 26, 19861 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, 1986; (2) the amount of the proposed levy, exclusive of election costs and debt service, for the current year beginning May 1, 1986; (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 1/8th 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 7: 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 August 19,1986 nor later than August 26, 1986, which notice shall be substantially as set forth in the attached Exhibit B 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 the taxable property of Special Service Area No.5 within the Village for the preceding year ending April 30,1986; (2) the amount of the proposed levy, exclusive of election costs and debt service, for the current year beginning May 1, 1986; (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 1/8th 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 8: This Resolution shall be in full force and effect upon its passage and approval in accordance with law. PASSED AND APPROVED THIS 5th DAY OF AUGUST, 1986. AYES: NAYS: ABSENT: Arthur, Floros, Murauskis, Van Geem, Wattenberg None Farley ft ,;: .t/ ¿-ae-r t'£/:",- ~/ ~/{d:'£j¿¥~'-- cT MAYOR A nEST: ~~~ çY ¿1Ý~ VILLAGE CLERK $1 ,151 ,952 $1,255,391 + 9.0% 106,554 97,850 120,510 + 23.2 $1,249,802 $1,482,455 + 18.6% $5,890,950 $6,705,363 + 13 .8% < 366,648> < 648,808> ~5.524.302 ~6.056.555 :!:.-J . 69ó $ 234,189 $ 265,060 + 13.2% 1,030,000 1,107,250 + 7.5 $1,264,189 $1,372,310 + 8.6 < 234,189> < 265,060> ~1.030.000 $1.107.250 + 7.5% VILLAGE Of MOUNT PROSPECT COMPARATIVE PROPERTY TAX LEVIES FOR THE TAX YEARS 1985 and 1986 1985 Levy 1986 Levy Village Services: General Corporate Purposes $2,255,700 $2,600,750 1,220,550 1,236,000 309,000 309,000 489,250 458,350 366,648 648,B08 $4 , 641 , 148 $5,252,908 Garbage Collection Capital Improvements Employee Pensions Bonds & Interest Total Village Services Library Services: library Operation Maintenance & Repair Employee Pensions Total Library Services Total Village and Library Tax Levy less Bonds & Interest Total Village and Library Less Bonds & Interest Special Service Area No.5 lake Michigan Water: Bonds & Interest Construction Total Special Service Area No.5 Less Bonds & Interest Total Special Service Area No.5 Less Bonds & Interest Schedule A Percentage Change + 15.3% + 1.3 6.3 + 76.9 + 13 .2% Exhibit A VILLAGE OF MOUNT PROSPECT NOTICE OF PUBLIC HEARING ON THE 1986 TAX LEVY NOTICE IS HEREBY GIVEN, that a public hearing shall be held in the Board Room of the Mount Prospect Senior Center, 50 South Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock C.D.T. on September 2,1986, regarding the action of the President and Board of Trustees of the Village of Mount Prospect to adopt a Tax Levy Ordinance upon all the taxable property within the Village for the fiscal year commencing May 1, 1986, and ending April 30, 1987, in the aggregate amount of $6,056,555 (exclusive of election costs and debt service) which levy consti tutes an increase of 9. 6~6 over that tax levy extension of $5,524,302 levied by the Village of Mount Prospect for the preceding tax 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 20th day of August, 1986 /s/ Carol A. Fields Village Clerk Exhibit B VILLAGE Of MOUNT PROSPECT NOTICE OF PUBLIC HEARING ON THE 1986 TAX LEVY NOTICE IS HEREBY GIVEN, that a public hearing shall be held in the Board Room of the Mount Prospect Senior Center, 50 South Emerson Street, Mount Prospect, Illinois at 7:30 p.m. o'clock C.D.T. on September 2,1986, regarding the action of the President and Board of Trustees of the Village of Mount Prospect to adopt a Tax levy Ordinance upon the taxable property of Special Service Area No.5 within the Village for the fiscal year commencing May 1,1986, and ending April 30,1987, in the aggregate amount of $1,107,250 (exclusive of election costs and debt service) which levy constitutes an increase of 7.5% over that tax levy extension of $1,030,000 levied by the Village of Mount Prospect for the preceding tax 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 20th day of August, 1986 /s/ Carol A. Fields Village Clerk