On Tuesday, November 4, 2014 more than 57% of voters approved a referendum to increase funding for the Library for the next four years.
Thanks to everyone that supported the Library by voting "YES" and to the members of the Save Our Library Services Committee that worked so hard on the Library's behalf!
The Library Board of Trustees had determined that the current level of funding was not adequate to support the present level of programs, services, staffing and collections and also provide funds for building repairs and improvements.
Due to reductions in the property tax levy for the Library in 2009, 2010 & 2012, the Library received approximately $450,000 less per year than what was received from property taxes in 2008. In addition, $100,000 in revenue sharing that the Library received annually from the City was eliminated.
The City Council placed a question on the November 4, 2014 ballot asking voters if they support an increase in the amount of taxpayer funding the Library receives for the next four years.
The question as it appeared on the November 4, 2014 ballot:
"Shall the annual library tax for maintenance and operation of the Park Ridge Public Library be increased from 0.150% to 0.386% for the four (4) levy years 2014 through 2017?"
For the 2013 levy year the City used its home rule power to levy a tax equal to 0.29%. Therefore, for the 2014 levy year, the 0.368% rate would result in approximately $20.76 of additional tax for every $100,000 in property value equating to $87.58 of additional tax for a single family residence with a fair market value of $421,800.