Crystal Lake Park District recently considered a proposed 2010 Tax Levy for the District. The Levy Ordinance is to be placed on the December 2 Park Board Agenda. The proposed Tax Levy is expected to be approved at this time. The total proposed levy as considered at the November 4 Board meeting calls for $6,820,564 including all funding for the Crystal Lake Park District funds as well as $450,000 for special recreation and $957,564 for debt service.
By decreasing the 2010 Special Recreation levy to $450,000 from the 2009 extension of $750,877, the levy will be less than 105 percent of the previous year's amount and will not require a Truth in Taxation requirement.
What Is Truth in Taxation Law?
The Truth in Taxation law was established in Illinois by legislation which became effective in 1990. It requires taxing districts to determine whether the year's levy (not anticipated extension) is 5% or more than the last year's extension. If the percentage increase is more than 105%, a publication of notice and a hearing on the budget is required.
If there is a required hearing, it may not coincide with the public hearing on the budget. Other legal requirements regarding the publication and holding of the hearing are also put in place.
The 2009 Crystal Lake Park District levy request was for $6,969,538 with a certified extension of $6,605,915. The final determination of the tax rate is made by the County based on the actual assessed valuation figures of property in the Park District and the amount of revenue requested by the District.
For 2010 proposed levy the total amount is $6,820.564 and a Truth in Taxation hearing is not required.
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