Title
Resolution accepting and placing on file an estimate of the annual aggregate tax levy and providing for the apportionment of estimated taxes across the various items for the Fiscal Year (FY) 2023 Appropriation Ordinance as will be adopted by the County Board.
Staff Summary
* State Statute requires an estimate of the property tax levy to be determined in September of each year for the following tax year.
* This resolution establishes the total estimated tax levy and identifies the estimated amount of tax dollars allocated to each of the County-wide property tax funds. However, the FY 2023 Budget is still being developed and the amounts in each type of levy category will change as necessary to meet both County policy and balancing needs in each fund.
* This action sets an estimated amount. The final levy will be prepared and submitted for County Board approval at the same time as the FY 2023 Budget in November 2022.
* The estimated Tax Year 2022 (FY 2023) tax levy is $5,102,791 above Tax Year 2021 (FY 2022), for a total estimate of $168,595,212.
Body
RESOLUTION
WHEREAS, the County Administrator of Lake County is preparing and will submit to the Lake County Board the FY 2023 Lake County Budget, in accordance with 55 ILCS 5/2-5009, and
WHEREAS, the County Board is required to adopt an annual budget in accordance with 55 ILCS 5/6-1001, and
WHEREAS, it is necessary at this time in the budget process to determine an estimate of the Annual Aggregate Levy to be levied upon the real property in the County of Lake, in accordance with 35 ILCS 200/18-10, and
WHEREAS, the FY 2023 budget is subject to County Board discussion and direction and as such, this levy may be $168,595,212 in total at the discretion of the Board during the FY 2023 budget process, and
WHEREAS, the amounts listed are the amounts estimated at this time to be raised for each specified levy as indicated.
NOW, THEREFORE, BE IT RESOLVED, that the Lake County Board hereby determines the followi...
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