MTZ village board approves tax levy request for Police Pension Board

By BLAKE FAITH
Staff Writer

The Mt. Zion Village Board met on August 19 and approved the request for tax levy funding for the Mt. Zion Police Pension Board.

The Police Pension Board is also required by statute to request funding from the Village Board. The Village Board then incorporates the funding request into the Village’s annual tax levy. The Police Pension Board utilizes the services of an actuary to determine the funding level necessary to fulfill the Village’s statutory obligation to the Police Pension Fund.

This year the amount requested is $146,238. This represents a 13.88% decrease over the previous year’s request of $169,800. Each year the request will fluctuate because it is based on the census of the current police department staff, any disability claims, retiree pension costs and investment return income. This year’s request decreased due to the phase-in assumed rate of return by the state-wide fund and the investment return the state-wide fund has had over the last year.

The village board also approved:

-Consideration and action on Ordinance 2024-21 – An Ordinance Authorizing the Annexation of Certain Property to the Village of M.t Zion, Macon County, Illinois – Parcel Number 12-17-09-400-26 – 1001 S. Henderson Street.

-Consideration and action on Ordinance 2024-22 An Ordinance Directing the Purchase of 430 & 440 W. Main Street, Mt. Zion, Illinois.

The next Mt. Zion Village Board meeting will be on September 16 at 5:15 p.m.