title
PROPOSED ORDINANCE
AN ORDINANCE DETERMINING THE 2022 TAX LEVY IN COMPLIANCE WITH THE TRUTH IN TAXATION ACT
WHEREAS, the Truth in Taxation Act, 35 ILCS 200/18-60 (the "Act") requires the Board of Commissioners of the Forest Preserve District of Cook County ("District"), to determine the estimated amount necessary to be raised by taxation for the 2022 levy year not less than twenty (20) days prior to the adoption of its 2022 aggregate tax levy ("Tax Levy"); and
WHEREAS, if the estimated aggregate amount necessary to be levied, exclusive of election costs and bond and interest costs (as defined in the Act), exceeds 105% of the amount of property taxes extended or estimated to be extended upon the final aggregate levy of the preceding year (plus any amount abated by the taxing district prior to such extension), then the District's Board of Commissioners shall give public notice and shall hold a public hearing on the District's intent to adopt an aggregate tax levy in an amount which is more than 105% of such extension or estimated extension for the preceding year; and
WHEREAS, on December 14, 2021 the District adopted Resolution 21-0532 entitled, "AN ELECTION RESOLUTION PROVIDING FOR AND REQUIRING THE SUBMISSION OF THE PROPOSITION OF INCREASING THE LIMITING RATE FOR THE FOREST PRESERVE DISTRICT OF COOK COUNTY, ILLINOIS, TO THE VOTERS OF SAID FOREST PRESERVE DISTRICT AT THE GENERAL ELECTION TO BE HELD ON THE 8TH DAY OF NOVEMBER 2022" ("Election Resolution") by which the District will ask the voters of the District on November 8, 2022, to authorize an increase in the limiting rate for the District by an amount equal to 0.025% above the limiting rate for levy year 2020, and establishing same at 0.076% of the equalized assessed value of the taxable property therein for the 2022 levy year (the "Proposition"); and
WHEREAS, on March 15, 2022, the District's Board of Commissioners approved an Ordinance for the Levy of Taxes for the Year 2022 (Board Item No. 22-001...
Click here for full text