HomeMy Public PortalAbout12.07.92 VB Public Hearing MinutesPLAINFIELD VILLAGE BOARD OF TRUSTEES
PUBLIC HEARING
DATE: DECEMBER 7, 1992 AT: PLAINFIELD PUBLIC LIBRARY
MEMBERS OF HOARD PRESENT: MA
M.
OTHERSS PRESENT: D.
V.
J.
P.
D.
H.
YOR LATTA, D. GULLICKSEN, W. SHARP,
LAMBERT, R. ROCK, J. RAY, J. DEMENT
VAN VOOREN - ADMINISTRATOR
KRNAC - VILLAGE CLERK
HARVEY - ATTORNEY
WALDOCK - PLANNER
BENNETT - POLICE CHIEF
HAMILTON - ENGINEER
At 7:00 p.m. Mayor Latta opened the Public Hearing on the Tax Levy
for 1993/94.
Roll call was taken, all members were present.
Administrator Van Vooren reported the Village of Plainfield is
required to file the Tax Levy Ordinance with the County Clerk
before the last Tuesday in December (December 29, ].992). The Board
decided to go with a Tax Levy greater than 105. This action
required the publication of the Truth and Taxation Notice which was
published in the Enterprise on November 25, 1992 that announced
this Public Hearing. In 1991 the E.A.V. for the Village was
$66,446,630. which was an operational levy that was $399,410. or
roughly $.60 per $100. E.A.V., second component was a debt service
of $225,919. or $.34 E.A.V. bringing a grand total of $625,329.
with a tax rate of $.9411 per $100. E.A.V. The Village
anticipates, based on building and construction in 1992, that we
would add $5,500,000. of new construction and the Village has added
$1,842,500. of new annexed property to the Village. This brings
a grand total of $78,842,500. estimated E.A.V. for the Village of
Plainfield in 1992. This would be approximately 20~ increase in
E.A.V. The Tax Cap requires the Village to levy the lessor of 5~
ar the cost of living on existing property in 1991. Our cost of
living for 1991 was 3.1~, therefore the operational levy on
existing property in 1991 is $417,791.77 for ].992 for 1991
properties. Due to the new construction we levied $.6011 per $100.
E.A.V. (1991 rate) which equates to $33,061. We also had new
annexations in the Village and we levied an additional $11,075.
which brings the operational levy to a grand total of $455,927.,
an increase from 1991 to 1992 of 14.14. We have met components
of the cap by only levying a tax of 3.1~ of 1991 real property and
have taken advantage of new construction and new annexations. The
grand total tax rate for 1991 was $.9411 per $100. E.A.V., the
estimated 1992 rate is $.8712 per $100. E.A.V. approximately 7 1/2$
reduction of the tax rate. If a resident has a home valued at
$150,000. the home should be assessed at 1/3 the market value
therein having an Equalized Assessed Valuation of $50,000. and in
PLAINFIELD VILLAGE BOARD OF TRUSTEES
DECEMBER 7~ 1992
PAGE TWO
1991 taxes would have been $470.55. The estimated 1992 rate of
$.8712 per $100. E.A.V. if there were no change to the market
value, the 1992 taxes would be $435.60 or a reduction of 7.43.
If this real estate had increased in value from $150,000. in 1991
to $160,500. in 1992 the taxes would be $466.09. In 1989 the
Village's tax rate was $1,1309 per $100. E.A.V. iri 1990 it
decreased to $1,0221 per $100. E.A.V., 1991 $.9411 per $100. E.A.V.
and we estimate in 1992 $.8712 per $100. E.A.V. an approximate 7~
reduction from 1991 to 1992. After some discussion, Administrator
Van Vooren stated he has received a letter from Eleanor Wadda of
205 Sunshine Circle, who is a senior citizen who moved to
Plainfield in 1982/83 and her concern is that her income is not
increasing by 14.14, the fixed income people are being penalized,
their income is not increasing. A resident in the audience, Sandra
Prager questioned, if the tax rate continues getting lower, then
why do our taxes continue gaing up? The article in the newspaper
stated that if your assessment came down, we should see a decrease
in the taxes, but we all know our assessments are not coming down.
Mayor Latta stated, if she is looking at her total tax bill, the
Village taxes are only approximately 1/6 of your total tax bill.
Administrator Van Vooren stated the Village's portion is roughly
12~ of your total tax bill.
J. Dement moved to close the Public Hearing of December 7, 1992 on
the Tax Levy 1993/94. Seconded by W. Sharp. Voice vote. 6 yes,
q no. Motion carried.
7:30 p.m.
KRNAC~ - `V/LLLAGE CLERK