(70 ILCS 1205/5-1)
(from Ch. 105, par. 5-1)
Each Park District has the power to levy and collect taxes on
all the taxable property in the district for all corporate purposes. The
commissioners may accumulate funds for the purposes of building repairs and
improvements and may annually levy taxes for such purposes in excess of
current requirements for its other purposes but subject to the tax rate
limitation as herein provided.
All general taxes
proposed by the board to be levied upon the taxable
property within the district shall be levied by ordinance. A certified
copy of such levy ordinance shall be filed with the county clerk of the
county in which the same is to be collected not later than the last
Tuesday in December in each year. The county clerk shall extend
such tax; provided, the aggregate amount of taxes levied for any one year,
exclusive of the amount levied for the payment of the principal and
interest on bonded indebtedness of the district and taxes authorized by
special referenda, shall not exceed, except as otherwise provided in this
Section, the rate of .10%, or the rate
limitation in effect on July 1, 1967, whichever is greater, of the
value, as equalized or assessed by the Department of Revenue.
Notwithstanding any other provision of this Section, a
district board of a park district lying wholly within one county is
authorized to increase property taxes under this
Section for corporate purposes for any one year so long as the
offset by a like property tax levy reduction in one or more of the park
At the time that such park district files its levy with the county clerk, it
shall also certify to the county clerk that the park district has complied with
and is authorized to act under this Section 5-1 of the Park District Code.
In no instance shall
the increase either
exceed or result in a reduction to the extension limitation to which any park
district is subject under
of the Property Tax Code.
Notwithstanding any provision of this Section to the contrary, if a park district is subject to Section 18-195 of the Property Tax Code and does not levy the tax authorized by Section 5-3, then it may increase the property tax levy under this Section for corporate purposes to a total rate not to exceed the total of rates authorized by this Section and Section 5-3 as long as the increase is offset by a like property tax levy reduction in one or more of the park district's funds. In no instance shall the increase for corporate purposes cause the park district to exceed the limiting rate that the park district is subject to under Section 18-195 of the Property Tax Code.
Any funds on hand at the end of the fiscal year that are not pledged for or
allocated to a particular purpose may, by action of the board of commissioners,
be transferred to a capital improvement fund and accumulated therein, but
the total amount accumulated in the fund may not exceed 1.5% of the aggregate
assessed valuation of all taxable property in the park district.
The foregoing limitations upon tax rates may be decreased under the referendum provisions of the General Revenue Law of
the State of Illinois.
(Source: P.A. 97-974, eff. 8-17-12.)