Richton Park Library District Levy Increase (March 2012)

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A Richton Park Library District Levy Increase measure was on the March 20, 2012 ballot in the Richton Park library district area which is in Cook County.

This measure was defeated

  • YES 699 (39.74%)
  • NO 1,060 (60.26%)Defeatedd[1]

This measure sought to increase the current district levy by a rate of .258 percent of assessed value in order to further pay for general library needs as well as upgrading technology and expanding services.[2]

Text of measure

The question on the ballot:

Shall the limiting rate under the Property Tax Extension Limitation Law for the Richton Park Public Library District, Cook County, Illinois, be increased by an additional amount equal to 0.258% above the limiting rate for levy year 2010 for the purpose of providing additional technology and expanded services and for general library purposes and be equal to 0.651% of the equalized assessed value of the taxable property therein for levy year 2011? (1) The approximate amount of taxes extendable at the most recently extended limiting rate is $804,882.58, and the approximate amount of taxes extendable if the proposition is approved is $1,333,278.77. (2) For the 2011 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 $85.14. (3) If the proposition is approved, the aggregate extension for 2011 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).[3]

References

  1. Cook County Clerk, March Election Results
  2. Cook County Elections, March referendum List
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.