Title
Proposed 2021 Property Tax Levy - Public Hearing
History
Legal notice for this Public Hearing was published in the Daily Southtown Newspaper setting forth the date, time and location at 7:00 p.m. on December 20, 2021, at the Village of Orland Park Village Hall.
The December 20, 2021, Board agenda includes an item approving the 2021 property tax levy that is reflected in the FY2022 budget. There is a statutory requirement to hold a Truth in Taxation Public Hearing if the proposed corporate and special purpose components of the levy exceed 105% of the prior years' corporate and special purpose levy extension. The Village's 2021 levy does not exceed 105% of the 2020 extended levy. In the interest of transparency, the Black Box public hearing notification was published.
The Village tax levy for operations and debt service totals $13,604,255.
The Library tax levy for operations and debt service totals $7,103,603
The proposed tax levy continues the Village's goal of minimizing the impact from property tax. The Village anticipates increases in the Village's EAV from the new development adding to the tax rolls. As a result, it is anticipated that the property tax rate will decrease by approximately 1% with the proposed tax levy. Overall, with the proposed tax levy, the property tax rate has decreased 29.58% from 2016.
Recommended Action/Motion
I move to adjourn the public hearing for the 2021 property tax levy.