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Title:
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Revised estimated 2019 amended and 2020 aggregate property tax levies
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Topic:
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TAXES/TAX LEVIES - Levies - 2019, TAXES/TAX LEVIES - Levies - 2020
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Office of Budget and Management
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CITY OF CHICAGO
VIA HAND DELIVERY
November 6, 2019
Anna M. Valencia City Clerk Room 107
121 North LaSalle Street Chicago, Illinois 60602
RE: Estimated 2019 amended and 2020 aggregate property tax levies
Dear Ms. Valencia:'
Pursuant to Section 18-60 ofthe Illinois Truth in Taxation Law, 35 ILCS 200/18-55 etseq., I provided to you the attached letter dated October 23,2019. Since then, the Gty of Chicago Office of Budget and Management (OBM) has revised the estimates contained in that letter. Specifically, OBM has made the following revised determinations regarding the amounts of money, exclusive of election costs, estimated to be necessary to be raised by taxation* for the following years upon the taxable property in the City:
2019 amended aggregate property tax levy: $1,092,016,000 (note that an additional $382,206,000 is levied for debt service)
2020 aggregate property-tax levy: $1,119,870,000 (note that an additional $419,163,000 is levied for debt service)
* The Truth in Taxation Law excludes "debt service levies" from the definition of "aggregate levy," and I include debt service levies here solely for transparency and completeness.
Please refer to the dollar amounts contained in this letter, rather than my letter of October 23, 2019. Please also place this letter on file. Thank you.
Sincerely,
Susie Park Budget Director
1.21 NORTH LASALLE STREET, ROOM 604,