TITLE
ADOPTION OF THE 2024 ANNUAL TAX LEVY ORDINANCE
BODY
To the Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the Board of Commissioners adopt the attached Chicago Park District (the “District”) 2024 Annual Tax Levy Ordinance (the “2024 Tax Levy Ordinance”). The District’s 2024 Tax Levy Ordinance is directed by statute to determine an aggregate levy, which encompasses the following: (1) the annual corporate levy of the taxing district; (2) liability insurance; (3) pension; and (4) the aquarium and museums as well as debt service of the District and special recreation revenues.
II. Budget and Financial Information
Budget Classification: Operating Funds
Fiscal Year: 2024 Operating Budget
Source of Funds: Property Taxes
III. Explanation
The District is empowered by Section 19 of the Chicago Park District Act, 70 ILCS 1505/19, to levy a real estate tax on property located in the District’s boundary for the necessary expenses of the District. In addition, state statute requires an approval of the property tax levy separate from the annual budget process. The attached 2024 Tax Levy Ordinance sets the dollar amount and purpose for the proposed 2024 tax levy, which approximates the levy passed as part of the 2024 budget. Upon your approval, the Secretary of the District will file a certified copy of the adopted 2024 Tax Levy Ordinance, together with the annexed 2024 Annual Appropriation Ordinance, with the County Clerks of both Cook and DuPage. The administration and collection of the real estate taxes is assigned to the County Clerks and Treasurers.