NOTICE IS HEREBY GIVEN that at the Consolidated Election to be held on Tuesday, the 28th day of
June 2022, the following proposition will be submitted to the voters of the Village of Durand,
Winnebago County, Illinois:
“SHALL THE VILLAGE OF DURAND, 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 0.2318 % 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 LIMITED RATE IS $53,327.75, AND THE APPROXIMATE
AMOUNT OF TAXES EXTENDABLE IF THE PROPOSITION IS APPROVED IS
$95,906.70.
(2) FOR THE 2022 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 $77.26.
(3) BASED UPON AN AVERAGE ANNUAL PERCENTAGE INCREASE IN THE MARKET
VALUE OF SUCH PROPERTY OF 4.35 %, THE APPROXIMATE AMOUNT OF THE
ADDITIONAL TAX EXTENDABLE AGAINST SUCH PROPERTY FOR THE 2023
LEVY YEAR IS ESTIMATED TO BE $80.62 AND THE 2024 LEVY YEAR IS
ESTIMATED TO BE $84.13.
The polls at such Election will be open at 6:00 a.m. and continue to say open until 7:00 p.m. of that day
Dated this 6th day of May, 2022
CLERK OF VILLAGE OF DURAND, WINNEBAGO COUNTY, ILLINOIS
FACTS OF REASONING
IMRF Referendum Informatio Sheet 5_1 update (1) as provided by the Village of Durand Mayor and the Board of Trustees