A dramatic 43 percent decline in property assessments over the past five years has resulted in a nearly 15 percent drop in tax revenues for the Homewood-Flossmoor Park District.
Park board commissioners say the red ink is startling, and they are grateful to staff for helping meet the challenges faced by losing more than $2.3 million over that period. The past year, the district lost $828,000 from its tax levy.
The park district’s 2016-17 fiscal year budget is approximately $15 million, with $4.95 million coming from property tax . . .