===== PDF PAGE 7 ===== [Extraction: OCR (rendered-page OCR)] CITY OF WEST CHICAGO FINANCE COMMITTEE AGENDA ITEM SUMMARY ITEM TITLE: AGENDA ITEM NUMBER: __‘t 8. 2024 Property Tax Levy . Ordinance No. 24-0-0049 FIFE'NUMBER: COMMITTEE AGENDA DATE: December 2, 2024 COUNCIL AGENDA DATE: December 2, 2024 STAFF REVIEW: Nikki Giles SIGNATURE. APPROVED BY CITY ADMINISTRATOR: SIGNATURE ITEM SUMMARY: The total 2024 tax levy request, per attached Ordinance No. 24-O-0049, has been projected for the Fiscal Year 2025 budget at $4,932,712.13. The 2024 tax levy proposal of $4,932,712.13 represents a 4.9 percent increase over the prior year tax levy, per past City Council direction. The final 2024 tax rate has a direct correlation to the final equalized assessed valuation of Wayne and Winfield Townships, and therefore, may vary slightly from the projected rate of .4663 should the Assessor's estimates be subject to modifications. The estimated rate represents a decrease of .00231%. As reported to the City, the Wayne Township Assessor is projecting an 10.22% increase in assessed value and $155,068 as estimated 2024 new construction. The Winfield Township Assessor has reported a 9.49% increase in assessed value and $13,331,091 as estimated 2024 new construction. ACTIONS PROPOSED: Recommend to City Council approval of a 2024 tax levy request for General Corporate Purposes in the amount of $4,932,712.13. COMMITTEE RECOMMENDATION: This item is being presented to the Finance Committee for consideration prior to the City Council meeting. ===== PDF PAGE 8 ===== [Extraction: OCR (rendered-page OCR)] ORDINANCE NO. 24-0-0049 AN ORDINANCE LEVYING TAXES ON PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY OF WEST CHICAGO AS THAT PROPERTY IS ASSESSED AND EQUALIZED FOR STATE AND COUNTY PURPOSES FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2025 AND ENDING DECEMBER 31, 2025 WHEREAS, the City Council of the City of West Chicago, County of DuPage, State of Illinois, did on the 2nd day of December 2024, approve the Annual Budget Ordinance for the City of West Chicago for the fiscal year beginning on the 1‘ day of January 2025 and ending on the 31* day of December 2025, the total amount of which budgeted for the corporate purposes legally made is ascertained to be the aggregate sum of $4,932,712.13. NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of West Chicago, in regular session assembled; SECTION 1. That there be and is hereby levied upon all taxable property within the Corporate limits of said City of West Chicago, Illinois, for the said fiscal year beginning on the 1* day of January 2025, and ending on the 31st day of December 2025, the total sum of $4,932,712.13 for the specific purposes mentioned in said Budget Ordinance and in the various sums as follows to wit. SECTION 2. All ordinances and resolutions, or parts thereof, in conflict with the provisions of this Ordinance are, to the extent of such conflict, expressly repealed. SECTION 3. This Ordinance shall be in full force and effect from and after its passage, approval, and publication in pamphlet form as provided by law. SECTION 4. The City Clerk of the City of West Chicago is hereby authorized and directed to file with the County Clerk of said County of DuPage, State of Illinois, a duly certified copy of this Ordinance. PASSED THIS 2nd day of December 2024. Alderman L. Chassee _ Alderman D. Beebe _ Alderman J. Sheahan _ Alderman H. Brown _ Alderman A. Hallett _ Alderman C. Dettmann _ Alderman M. Birch Ferguson _ Alderman S. Dimas _ Alderman C. Swiatek _ Alderman J. Smith, Jr. _ Alderman R. Stout _ Alderman J. Short a Alderman J. Morano _ Alderman J. Banas _ APPROVED as to form: City Attorney APPROVED this 2nd day of December 2024. Mayor Ruben Pineda ATTEST: Valeria Perez, Executive Office Manager ===== PDF PAGE 9 ===== [Extraction: OCR (rendered-page OCR)] STATE OF ILLINOIS ) COUNTY OF DUPAGE _ ) |, Ruben Pineda, do hereby certify that | am the duly qualified and Mayor of the City of West Chicago, DuPage County, Illinois. | do further certify that provisions of Sections 4 through 7 of the “Truth in Taxation Act” (Illinois Revised Statutes, Chapter 120, Section 861 through 869) are not applicable to the City of West Chicago in connection with its Tax Levy Ordinance 24-O- 0049 for the fiscal year beginning January 1, 2025, and ending December 31, 2025. IN WITNESS WHEREOF, | hereunto affix my official signature at West Chicago, Illinois this 2nd day of December 2024. Mayor Ruben Pineda City of West Chicago (seal)