The Homewood-Flossmoor Park District is proposing an estimated 2020 levy of $5,479,473, reflecting a slight increase.
Under Illinois’ tax cap law, government bodies are allowed to increase taxes yearly by 5% or the Consumer Price Index, whichever is less. The CPI for this year is 2.3%.
Sharon Dangles, superintendent of finance and administration, told commissioners at their Oct. 20 meeting that the Equalized Assessed Valuation (EAV) has dropped 2.8% from the previous year. That drop is forcing an increase in the tax rate of 0.9% from 0.89% to cover the park district’s expenses.
Because the district is proposing an increase to the levy of more than 105%, the required public hearing will be held at 7 p.m. Dec. 1 before the commissioners take action on the proposed levy.
Park district revenue is divided into 10 funds that cover everything from salaries, programs, maintenance and insurance to a special recreation fund that covers the park district’s share for South Suburban Special Recreation Association, and a Museum Fund that is the park district’s share with the Olympia Fields Park District to jointly manage Irons Oaks.
Dangles reported the park district’s corporate, recreation and workers compensation funds are estimated to levy at the highest rates.
The auditing fund is dropping slightly and the bond and interest fund is up slightly. Other funds are remaining the same.
The actual levy will be set by the Cook County Clerk sometime in summer 2021. Dangles said if the park district’s estimates are calculated as too high, the clerk’s office will reduce the tax levy for the retirement and social security funds.