Park District board approves tax levy ordinance

From press release

At their Dec. 8 board meeting, Rockford Park District Board of Commissioners approved a 2009 tax levy of $22,593,100, an increase of 3.6 percent or $788,879 over the 2008 levy. Based on preliminary Equalized Assessed Valuation (EAV) and new construction information, the district is estimating to receive around $150,000 of additional tax dollars, or a 0.68 percent increase over 2008.

Chief Financial Officer Stacie Talbert said the district is requesting above and beyond the “estimated” amount because of the uncertainty in the EAV and new construction numbers that are not finalized until next spring 2010.

Talbert said: “Although the district is requesting the tax increase by levying at the maximum, tax caps legislation will adjust the actual tax dollars once the equalized assessed valuation numbers are available. The levy request is within voter-approved tax rates, and tax caps offer an extra safeguard to ensure property taxes are capped.”