Financial Implications

Friends of the Park 2010

Friends of the Park 2010
7501 W. Harrison Street
Forest Park IL 60130
1.630.251.2399
friendsofthepark2010@gmail.com

The Park District of Forest Park is asking for a tax rate increase for purchase of the Roos property, development, and operating costs. For the 2009 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 referedum of $100,000 is estimated to be $12.00

The tax rate impact breaks down as follows:

Total Yearly Tax Bill	Yearly Increase	Monthly Increase
$3,000	$42.83	$3.57
$3,500	$49.96	$4.16
$4,000	$57.10	$4.75
$4,500	$64.24	$5.35
$5,000	$72.50	$6.04
$5,500	$79.95	$6.66
$6.000	$87.00	$7.25

The referendum's impact is approximately a 1.5% increase on a typical Forest Park resident's total tax bill. The debt service on this increase will extend to future residents of Forest Park for 25 years.

Friends of the Park 2010
Forest Park IL 60130
1.630.251.2399
friendsofthepark2010@gmail.com