Slight tax bump in store for Naperville Park District
Naperville residents likely will pay slightly more in property taxes to the park district this year.
The district's projected tax rate is up about half a cent over last year. The board has approved a rate of 25.38 cents per $100 of equalized assessed value, up from 24.88 cents.
That means the owner of a $325,000 home would pay the district about $269 in property taxes this year, according to Mindy Munn, director of business services. The owner of a home with that same value last year paid about $8 less.
Increases in the park district's tax levy - set this year at $16,578,000 - are limited by the state tax cap, which restricts increases to 5 percent or the rate of inflation (0.1 percent), whichever is less.
That rule doesn't apply to taxes levied for special recreation, however, so the district increased that levy this year to help fund capital projects that have ADA components.
While commissioners already have approved the levy, they are now turning their attention to the park district budget. The fiscal year began this month but the district had put the final budget on hold while it developed its strategic plan.
Although the city has been facing a large budget hole and impending layoffs, Munn said the park district is in decent shape because it relies on different revenue sources.
"I'm not saying we're not without our challenges," she said. "To the magnitude some other taxing agencies deal with, ours are less severe."
Roughly half the district's revenue comes from property taxes. It also receives income from fees charged for recreation programs. Its golf courses are self-sufficient and don't use property tax revenue.
The proposed budget for 2010 is $41.3 million, which is up $6.7 million over last year.
Munn said the change is largely due to capital projects, not operating costs. There will be no merit increases for staff this year.
On the capital side, there are $13.5 million in projects budgeted, up from $9.1 million last year.
Eric Shutes, director of planning, said two main projects are responsible. The first phase of Centennial Beach bathhouse and site renovations is scheduled to take place this year at a cost of about $2.93 million. The first phase of work on the Nike Sports Complex is also on the schedule, which will cost more than $4 million this year.
Munn will present the budget to the park board at a workshop at 5 p.m. today at the district's administration building, 320 W. Jackson Ave. The budget will be posted on the district's Web site beginning Friday and commissioners will vote on it Feb. 11.