Your Tax Dollars

Property taxes provide over 50% of the total revenue for the Park Dsitrict. Property taxes are levied annually by Park District ordinance. The tax levy ordinance defines the amount of money for which the Park District is asking to receive in property taxes revenues from the Lake County Clerk's Office. The Park Board must meet and determine its formal levy estimate twenty days prior to adopting the tax levy ordinance, typically at the November Park Board Meeting.

The District is required to hold a Truth-In-Taxation Public Hearing, typically at the December Park Board Meeting, in any year that the tax levy ordinance is expected to increase by 5% or more over the prior year's tax levy. Notice of this public hearing is published in a local newspaper no less than 14 days before the hearing. The tax levy ordinance is approved by the Park Board at the December Park Board meeting. A certified copy of the levy ordinance is filed with the Lake County Clerk no later than the last Tuesday in December of each year.

For more than 10 years, the Board of Park Commissioners has strived to maintain a stable tax rate. The Tax Rates Per Year chart shows the Districts's property tax rate trend for the tax years 1999 through 2008.

Once the levy ordinance is filed, the County Clerk extends the amount requested in the Park District's levy ordinance for billing and collection subject to statutory limits. A Park District does not always get what it requests in the levy ordinance.

The key elements in determining the amount of funds collected and distributed are:

1. The Equalized Assessed Valuation (EAV)
2. The Levy Ordinance
3. The maximum statutory tax rates set by the government (ceiling limitations)
4. Tax Cap provisions

The County Clerk will only extend the funds that are legally permitted.

Current News and Highlights

It is important to note that the tax rate levied by your Park District has actually decreased! It may not take the sting out of a higher tax bill, but the distinction is important because it demonstrates the commitment by this Park District to be fiscally responsible and aggressive in seeking other funding opportunities to improve services to its residents.