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BACKGROUND: <br /> By State of Illinois statute, the City is required to adopt the annual property t x levy prior to <br /> December 31 of the year of assessed value with property tax payable in the sub quent year. In <br /> the event that the City fails to adopt the property tax levy, the previously adopted roperty tax levy <br /> remains in full force and effect. <br /> POTENTIAL OBJECTION: <br /> There are no known objections to this ordinance request. <br /> INPUT FROM OTHER SOURCES: <br /> No input from other sources. <br /> STAFF REFERENCES: <br /> Gregg D. Zientara, City Treasurer&Director of Finance <br /> Ryan P. McCrady, City Manager <br /> BUDGET/TIME IMPLICATIONS: <br /> City is required to adopt the property tax levy prior to December 31 of the year of assessed value. <br /> Upon adoption of the City property tax levy, the City Clerk will file a certified cop with the Macon <br /> County Clerk, who shall use such certified property tax levy in the extension of roperty tax bills <br /> to be prepared and issued to property owners in calendar year 2014 with tax pa able in calendar <br /> year 2014. <br /> council letter[1].doc Page 2 of 2 Page 2 of 2 <br />