Proposed IMRF Pension Property Tax Levy
PROPOSITION TO APPEAR ON NOVEMBER 6, 2018 BALLOT
NOTICE IS: HEREBY GIVEN that at the election to be held on Tuesday, the 6 th day of November, 2018, the following proposition will be submitted to the voters of the Village of Jerome, Sangamon County, Illinois:
Shall the corporate authorities of the Village of Jerome, Sangamon County, Illinois be authorized to levy a new tax for the purpose of covering the Village’s Illinois Municipal Retirement Fund employer contribution and have an additional tax of 0.16% of the equalized assessed value of the taxable property therein extended for such purposes?
(1) The approximate amount of taxes extendable at the most recently extended limiting rate is $22,168.92, and the approximate amount of taxes extendable if the proposition is approved is $67,431.64.
(2) For the 2018 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 referendum of $100,000 is estimated to be $53.33.
(3) Based upon an average annual percentage increase in the market value of such property of 3.27%, the approximate amount of the additional tax extendable against such property for the 2019 levy year is estimated to be $55.08 and for the 2020 levy year is estimated to be $56.88.
The polls at said election will be open at 6:00 o’clock a.m. and continued open until 7:00 o’clock p.m. of that day.