2012 Budget Summary - Chicago Park District

Millions2012 Chicago Park District Budget SummaryMajor Revenue SourcesProperty TaxesThe most significant revenue source for the District is property tax. For 2012, $259M is againavailable for the operating budget. Over the past five years, property tax revenue has typicallyrepresented between 55 - 65 percent of the total operating revenue.The property tax is determined by dividing the levy by the equalized assessed value (EAV) of thetaxable net property in the City of Chicago. There are a variety of restrictions on the tax levy. ByIllinois statute, the portion of the levy going to the Corporate Fund is limited to 66 cents per$100 of EAV. The portion going to the Aquarium and Museum Fund is limited to a maximum of15 cents per $100 of EAV; and 4 cents per $100 of EAV going to the Special RecreationPrograms Fund. The remaining 15 cents goes to corporate fund for general use.City Colleges,3.06%Cook County,8.58%Forest PreserveDistrict, 1.03%MetropolitanWaterReclamationDistrict, 5.56%Chicago ParkDistrict, 6.47%Board ofEducation,52.34%City of Chicago,18.54%Chicago LibraryFund, 2.07%City of ChicagoSchool Bldg &Improv Fund ,2.35%6yr Tax levy vs Budget Trend$394 $387 $393 $392 $398 $398$400$300$259.9 $259.9 $259.9 $259.9 $259.9 $259.9$200$100$02007 2008 2009 2010 2011 2012BudgetProperty Tax Revenue11