Morton Grove Park District, Increase Limiting Rate -

Shall the limiting rate under the Property Tax Extension Limitation Law for the Morton Grove Park District, Cook County, Illinois, be increased by an additional amount equal to .105% above the limiting rate for levy year 2018 for the purposes of renovating, redeveloping, operating, and maintaining the property and facilities known as Harrer Park Pool, owned by the Morton Grove Park District, and for other lawful purposes of the Morton Grove Park District, and be equal to .400% of the equalized assessed value of the taxable property therein for levy year 2020?" 1) The approximate amount of taxes extendable at the most recently extended limiting rate is $2,307,783, and the approximate amount of taxes extendable if the proposition is approved is $3,129,197. 2) For the 2020 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 $30.57. 3) If the proposition is approved, the aggregate extension for 2020 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).