Freeport Township Senior Services Tax Levy Proposition (April 2013)
If approved, this measure would have authorized the Township of Freeport to impose an additional property tax levy of 0.15% of assessed valuation in order to fund senior citizen services. Details about this tax are below in the text of the question.
|Freeport Township Tax Prop.|
- These election results are from the Stephenson County elections office
Text of measure
Text of the question:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|“|| Shall the Township of Freeport,
Illinois be authorized to levy a new tax for senior citizen services purposes and have an additional tax of 0.15% of the equalized assessed value of the taxable property therein extended for such purposes?
(a) The approximate amount of taxes extendable at the most recently extended limiting rate is $961,903.12, and the approximate amount of taxes extendable if the proposition is approved is $1,321,923. (b) For the 2013 levy year the approximate amount of the additional tax extendable against property containing a single family residence and having a fair market value at the time of the referendum of $100,000 is estimated to be $41.00. (c) Based upon an average annual percentage decrease of 1.704% in the equalized assessed value of the taxable property in Freeport Township, less the new property included in the equalized assessed value, the approximate amount of the additional tax extendable against such property for the 2013 levy year is estimated to be $360,020 and for the 2014 levy year is estimated to be $353,885. (d) If the proposition is approved, the aggregate extension for 2013 will be determined by the limiting rate set forth in the proposition, rather than the otherwise applicable limiting rate calculated under the provisions of the Property Tax Extension Limitation Law (commonly known as the Property Tax Cap Law.)
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