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1997 Property Tax Levy Proposai
<br /> Taxes To Be Received in 1998-1999
<br /> ASSUMPTIONS-based on the Council retreat of 1995�
<br /> Tax Rate remains at $1.45
<br /> Use last year's actual EAV of$556,819,371
<br /> Maximum Tax Levy will be - $8,073,880 I
<br /> 1995 1996 1996 199T �
<br /> Levy Levy Levy Levy
<br /> actual (oroposed� actual (proposedl
<br /> DEBT-BONDS AND LEASES:
<br /> 1996 PBC-LEC Lease $ 572,828 $ 587,712 $ 590,790 $ 561,800
<br /> 1987 4 Special Assessment Sewer Bond 215,400 215,400 215,400 0
<br /> 1989 Dredging/Brush College Road Bond 584,080 584,080 584,080 552,966
<br /> 1991 Capital-Projects Bond 1,280,425 1,280,425 1,280,425 1,358,330
<br /> 1995 Refunding Bond Issue 1,333,880 1,279,528 1,286,252 1,355,059
<br /> Subtotal _ 3,986,613 3,947,145 3,956,947 3,828,155
<br /> BOND AND LEASE ABATEMENTS•
<br /> (payments made from other sources)
<br /> State Income Taxes (272,520) (272,520) (271,644) (300,550)
<br /> Assessment Payments From Property Owners (215,400) (215,400) (215,400) 0
<br /> Motor Fuel Taxes (178,800) (178,800) (178,800) (169,275)
<br /> 1995 Refunding Bond Issue Escrow (1,280,425) (1,280,425) (1,280,425) (1,358,330)
<br /> Subtotal (1,947,145) (1,947,145) (1,946,269) (1,828,155)
<br /> Net Bond Levy (a) $ 2,039,468 $ 2,000,000 $ 2,010,678 $ 2,000,000
<br /> TAX LEVY ORDINANCE:
<br /> Library $ 2,269,672 $ 2,269,672 $ 2,270,152 $ 2,335,562
<br /> Police Pension 677,119 712,225 712,728 781,180
<br /> Fire Pension 764,663 820,197 820,751 938,849
<br /> Police Protection � 621,458 727,467 727,762 727,762
<br /> Band 55,121 60,000 60,136 60,000
<br /> IMRF 559,852 559,631 560,160 559,631
<br /> Social Security 397,192 397,014 397,568 397,014
<br /> Mass Transit 150,230 150,000 150,341 150,000
<br /> Public Benefit 130,235 139,570 139,761 123,850
<br /> Ordinance Levy(b) $ 5,625,542 $ 5,835,776 $ 5,839,359 $ 6,073,848
<br /> TOTAL LEVY=(a)+(b) $ 7,665,010 $ 7,835,776 $ 7,850,037 $� 8,073,848
<br /> NET EQUALIZED ASSESSED VALUE $ 540,398,370 $ 540,398,370 $ 556,819,371 $,556,819,371
<br /> TAX RATE $ 1.4184 $ 1.4500 $ 1.4098 $ 1.4500
<br /> I
<br /> � TRUTH OF TAXATION COMPUTATION
<br /> !PRIOR YEAR EXTENSION-ORDINANCE LEVY $ 5,839,359!
<br /> ,STATUTORY RATE FOR COMPUTATION 1.05�
<br /> ,AMOUNT WHICH TRIGGERS NOTIFICATION $ 6 1_, 31,327 i
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