Politics & Government

Palatine Park District Approves $11 Million Tax Levy

Amount reflects zero increase from 2010 levy; debt service will be paid from reserves in an effort to hold the line on taxes.

The Palatine Park District board of Commissioners approved the 2011 tax levy in the amount of about $11 million. The levy applies to the upcoming fiscal year beginning January 1 and ending December 31, 2012.

The amount is a 1.8 percent increase, or $205,044 more than last year’s property tax levy. However, park officials said they will use reserve funds to abate a debt service payment – the end result should be that taxpayers do not see a net increase in the park district portion of their property tax bill.

“The tax levy does not include debt service or bond and interest,” said Debbie Smith, superintendent of finance and personnel for the park district. “If you calculate that in our request, the total dollars have gone down $1,000 from last year in an effort to keep taxpayer bills the same.”

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The board approved using $231,000 in funds from reserves to pay for debt service.

Smith said that if all things remain equal, there should be no increase on tax bills stemming from the park district taxy levy, though fluctuations property assessment and other factors can have an effect on individual tax bills.

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“If tax bills do go up, the resident’s [assessment] on their property has gone up or the [assessment] for neighboring residential or business properties have gone down,” Smith said.

Smith said that even without a net revenue increase, the park district is in strong financial shape.

“Programs have not been affected; we are a very fiscally healthy, conservative park district and are able to do this without affecting programs,” Smith said.

The board of commissioners also approved a tax abatement ordinance in the amount of $806,612, which adds to the effort of keeping taxpayer bills down, Smith said.

“When we abate taxes, we reduce what we ask the county to collect. There were two alternate revenue bonds, one to partially pay for construction of Falcon Park and the other to cover renovations at Eagle Pool,” Smith said.

Those costs will both be covered within the current levy request.  

“Our residents should be very proud of the board of commissioners; they are reducing the total amount of dollars requested compared to last year and have held the line on taxes,” Smith said.


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