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Type:
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Ordinance
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Status:
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Passed
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Title:
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Property tax levy for Year 2019
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Topic:
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TAXES/TAX LEVIES - Levies - 2019
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Attachments:
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1. O2018-8064.pdf
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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
October 31, 2018
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Budget Director, I transmit herewith the tax levy for fiscal year
2019.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago is a home rule unit of government as defined in Article VII, Section 6 (a) of the Illinois Constitution, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City has adopted its annual appropriation ordinance for the year 2019, pursuant to its powers granted by the constitution and laws of the State of Illinois; and
WHEREAS, it is now appropriate and in the best interests of the City of Chicago to enact its tax levy for the year 2019, to become effective as provided herein; and
WHEREAS, it is appropriate that the tax levy for the year 2019 receive expeditious consideration by the City Council; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The sum of One Billion, Four Hundred Seventy-Four Million, Two Hundred Twenty-Two Thousand Dollars ($1,474,222,000) ascertained by the City Council as the total amount of appropriations heretofore legally made for all corporate purposes to be provided for by the tax levy ofthe year 2019, is hereby levied for the year 2019 upon all property within the City of Chicago subject to taxation. The purposes for which appropriations have been made and the amounts appropriated for such purposes, respectively, are hereinafter specified in detail in the manner authorized for the annual appropriation ordinance for the year 2019, annexed to and made a part of this ordinance. The amounts appropriated and levied for each of said purposes, respectively, are set forth below in separate columns.
Appropriations for Expenditures and Amounts Levied for the Fiscal Year Beginning January I, 2019, and Ending December 31, 2019
#A$!'o u n ts A p p r o pr i a ted *:
Description
■ ■•.s'sfc...
IB,-- - iSs&Si-:'
Amounts to be levied in 2019 for the payment of bonds, notes and interest on bonds and notes
Bond Redemption and Interest Fund -0510
2005.0902 For interest on first lien bonds 2005.0912 l-'or payment ot'bonds 2005.0960 For loss in collection of taxes
$464.929J 22 SI 55,144,900 $17,078,978
$409,919,022 $0
$17,078,978
Specific Purposes - Financial
Total from Bond Redemption and Interest Fund-0510
Library Bond Redemption Fund -0516
2005.0902 For interest on first lien bonds 2005.0912 For payment of bonds 2005.0960 For loss in collection of taxes
$2,488,000 $1,680,000 $170,000
$2,488,000 $1,596,000 $170,000
Specific Purposes - Financial
Total from Library Bond Redemption Fund-0516
2005.0961 2005.0960
Library Note Redemption and Interest Fund Tender Notes Series B -0521
For payment of term notes
For loss in collection of taxes
$98,087,000 $4,037,000
$96,883,000 $4,037,000
Specific Purposes - Financial
Total from Library Note Redemption and Interest Fund Tender Notes Series B - 0521
City Colleges Bond Redemption and Interest Fund-0549
2005.0902 For interest on first lien bonds 2005.0912 For payment of bonds 2005.0960 For loss in collection of taxes
$25,052,000 $10,117,000 $1,461,000
$25,052,000 $10,023,000 $1,461,000
Specific Purposes - Financial
Total from City Colleges Bond Redemption and Interest Fund -0549
Municipal Employees' Annuity and Benefit Fund-0681
For the city's contribution to employees" annuity and benefit lurid
For the library's contribution to employees' annuity and benefit fund
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Specific Purposes - Financial
Total from Municipal Employees' Annuity and Benefit Fund- 0681
Amounts Appropriated Amounts Levied
Laborers' and Retirement Board Employees' Annuity and Benefit Fund-0682
For ihe city's contribution to employees' annuity and benefit fund
Specific Purposes - Financial
Total from Laborers' and Retirement Board Employees' Annuity and Benefit Fund-0682
Amounts Appropriated Amounts Levied
Code Description
Policemen's Annuity and Benefit Fund - 0683
-.nr. - nrv-1, ^or the city's contribution to employees' annuitv and benefit 2003.0976 .
fund
Specific Purposes - Financial
Total from Policemen's Annuitv and Benefit Fund-0683
Code Description
Firemen's Annuity and Benefit Fund -0684
-,nn- mi-,, I'01" the city's contribution to employees' annuitv and benefit 2003.0976 .
fund
Specific Purposes - Financial
Total from Firemen's Annuity and Benefit Fund- 0684
$2,088,789,000
$1,474,222,000
SECTION 2. In no event shall the amount levied for any purpose, as set forth in Section 1 hereof, exceed the amount appropriated for such purpose as set forth in the annual appropriation ordinance adopted for the year 2019.
SECTION 3. No later than ten days after its effective date, the City Clerk shall file with the County Clerk of Cook County and the County Clerk of Du Page County certified copies of this ordinance together with copies ofthe annual appropriation ordinance for the year 2019.
SECTION 4. This ordinance shall be in full force and effect from and after its passage and approval.
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