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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. 22-0019) and if the Proposition is approved by the District’s voters, an amended or supplemental levy ordinance will be presented to the Board of Commissioners for approval in order to levy such sums as are made available by the increased limiting rate for the 2022 levy year; and
WHEREAS, the amount of property taxes extended or estimated to be extended on the District’s aggregate tax levy for 2021 is:
Fund Amount
Corporate $53,545,686
Const. & Development $7,000,000
Bond & Interest N/A
Employee Annuity & Benefit $3,533,384
Chicago Zoological $14,284,927
Chicago Horticultural $8,948,070
$87,312,067 (TOTAL)
NOW, THEREFORE BE IT ORDAINED, by the Board of Commissioners of the Forest Preserve District of Cook County, Illinois, as follows:
Section 1. Incorporation of Preambles. The Board of Commissioners hereby finds that the recitals contained in the preambles of this Ordinance are full, true and correct and does incorporate them into this Ordinance.
Section 2. Estimate of Taxes to be Levied with Passage of Proposition for 0.076 % Levy. If the Proposition succeeds, the Board of Commissioners hereby finds that a tax in the sum of $132,128,637 is estimated to be necessary and levied upon all taxable property within the corporate limits of the District as follows:
FOREST PRESERVE DISTRICT OF COOK COUNTY TAX LEVY AT 0.076 % OF THE EQUALIZED ASSESSED VALUE OF TAXABLE PROPERTY FOR LEVY YEAR 2022
Fund Amount
Corporate $66,347,696
Const. & Development $32,412,217
Bond & Interest N/A
Employee Annuity & Benefit $3,735,727
Chicago Zoological $18,284,927
Chicago Horticultural $11,348,070
$132,128,637 (TOTAL)
Section 3. Estimated Tax Levy at 0.051% Levy. If the Proposition fails, the Board of Commissioners hereby finds that a tax in the sum of $89,553,052 is estimated to be necessary and levied upon all taxable property within the corporate limits of the District as follows:
FOREST PRESERVE DISTRICT OF COOK COUNTY TAX LEVY AT 0.051 % OF THE EQUALIZED ASSESSED VALUE OF TAXABLE PROPERTY FOR LEVY YEAR 2022
Fund Amount
Corporate $54,884,328
Const. & Development $7,700,000
Bond & Interest N/A
Employee Annuity & Benefit $3,735,727
Chicago Zoological $14,284,927
Chicago Horticultural $8,948,070
$89,553,052 (TOTAL)
Section 4. Public Hearing to be Held. The passage of the Proposition will result in the District’s estimated 2022 levy to exceed 105% of the amount of property taxes extended, including any amounts abated, upon the final aggregate levy of the preceding year. If the Proposition is approved by the voters, 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. Said public hearing shall be held following proper notice on or about December 1, 2022.
Section 5. Public Notice. Public notice of the hearing shall be given in a newspaper of general circulation published in the District, and a public hearing shall be held, all in the manner and time prescribed in said notice, which notice shall be published not more than 14 days nor less than 7 days prior to said hearing, and shall be not less than 1/8 page in size, with no smaller than twelve (12) point type, enclosed in a black border not less than 1/4 inch wide.
Effective date: This ordinance shall be in effect immediately upon adoption.
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