Park Board Commissioners Approve a 2.76% Increase in Taxes
On Thursday, November 18, the Glenview Park District Board of Commissioners approved a tax levy totaling $23,600,196. This represents a 2.76% increase for existing taxpayers, which would equal a $5.84 increase for a homeowner with an assessed value of $500,000.
In the past eight years, the Park Board has elected to abate the 2012C Pool Referendum Bonds seven times. This has helped to keep the levy flat in those seven years. The 2021 levy includes a CPI increase of 1.4%, a $40,000 capital contribution to the Special Recreation Fund which supports inclusion services and funds ADA improvements, and will include full payment of the 2012C bonds.
Due to the conclusion of the TIF, the levy also includes potential new growth of $3,581,026. This new growth represents taxpayers within The Glen whose tax dollars were previously directed to the TIF fund. The Village of Glenview managed the TIF fund for the development and enhancement of the TIF district and provided make-whole payments to the agencies that provided services to the TIF district. With the conclusion of the TIF, the Park District will no longer receive the make-whole payments but will receive tax dollars. Taxpayers will no longer have tax dollars allocated to the TIF fund, and instead will see their tax dollars allocated directly to the agencies that serve them, including the park district. To learn more about the TIF, please use the links and resources below.
In the last fiscal year, which ended April 30, the District received $2,751,173 from the Village through payments and expense reimbursements. If the TIF had been closed during this time period, the District would have collected $3,125,055, a difference of $373,882.
Based on these estimates, the park district anticipates the new growth associated with the TIF will result in a slight increase of overall tax revenue. These additional funds will be needed for continued maintenance and capital replacement projects at Gallery Park, Fuller Air Station Prairie, Schram Memorial Chapel and Park Center.