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