Laserfiche WebLink
RESOLUTION NO. 49-93 <br />A RESOLUTION OBJECTING TO THE IMPOSITION <br />OF PROPERTY TAX CAPS ON LOCAL GOVERNMENTS <br />IN COOK COUNTY <br />WHEREAS, Municipalities provide essential public services while <br />maintaining a fiscally responsible and balanced budget; and <br />WHEREAS, Home Rule Units have the least reliance upon property <br />taxes to provide these services; and <br />WHEREAS, the Illinois General Assembly has voted to place an <br />advisory referendum on the November 1994 ballot asking Cook County <br />Residents if property tax increases should be restricted to the lesser <br />of the rate of inflation or 5%; and <br />WHEREAS, the rate of inflation as measured by the Consumer Price <br />Index (CPI) over the past 12 months is 3.2%; and <br />WHEREAS, the annual property taxes levied by municipalities <br />includes State mandated employee pensions; and <br />WHEREAS, in November, 1992, Illinois voters in an advisory <br />referendum overwhelmingly voted to end unfunded State Mandates; and <br />WHEREAS, the Illinois General Assembly has failed to approve <br />legislation requiring State Mandates to either be funded or approved by <br />a 3/5ths vote of each house; and <br />WHEREAS, local governments under a property tax cap must either <br />reduce essential services or seek a referendum to maintain services <br />every time an unfunded Federal, State or Court imposed Mandate is <br />adopted; and <br />WHEREAS, many municipalities are required by State Statute to levy <br />the property taxes of the local Municipal Library, which is a separate <br />governmental entity with its own duly elected officials; and <br />WHEREAS, under a property tax cap, these municipalities will <br />experience a hardship if the Library levies a property tax higher than <br />the lesser of the CPI or 5%; and <br />WHEREAS, Cook County Municipalities are under the jurisdiction of <br />the Metropolitan Water Reclamation District (MWP,D) and under property <br />tax caps the MWRD could lose over $800 million in Federal Grants, <br />resulting in user fees, a needless loss of Federal Revenue, and a <br />hardship upon Municipal residents; and <br />