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) 2019 Appropriation Ordinance as will be adopted by the County Board of Lake County, Illinois (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 also separately identifies the estimated amount of tax dollars allocated to each of the county-wide property tax funds.
* The final levy will be prepared and submitted for County Board approval at the same time as the FY 2019 Budget in November.
* The FY 2019 Budget Policies directed staff to prepare a balanced budget with a flat property tax levy, increasing only by the amount of new property growth and this resolution does not change budget policies as adopted by the County Board. It simply publicly shares the range of tax levy that the County Board could choose to levy. The actual levy amounts are set when action is taken to approve the budget in November.
Body
RESOLUTION
WHEREAS, the County Administrator of Lake County is preparing and will submit to the Lake County Board the FY 2019 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 2019 budget is subject to County Board discussion and direction and as such, this levy may be increased to a maximum of $165,984,444 in total at the discretion of the Board during the FY 2019 budget process, and
WHEREAS, the amounts listed are the amounts estimated at this time to be raised for each specified levy ...
Click here for full text