Title
AN ORDINANCE PROVIDING FOR PARTIAL REIMBURSEMENT OF THE VILLAGE SHARE OF REAL ESTATE PROPERTY TAXES PAID BY OWNER-OCCUPANTS OF RESIDENTIAL REAL ESTATE IN THE VILLAGE OF ORLAND PARK.
Body
WHEREAS, the Village of Orland Park (the "Village"), Cook and Will Counties, Illinois, an Illinois home rule municipality, has pursuant to statute, 65 ILCS 5/ 8-11-1 and 8-11-5, created a Home Rule Municipal Retailers' Occupation Tax and a Home Rule Municipal Service Occupation Tax (collectively, the "Home Rule Sales Taxes"), assessed at the rate of three-fourths of one percent; and
WHEREAS, the Village has determined that it has or will have on hand surplus funds from the Home Rule Sales Taxes; and
WHEREAS, the Village has determined that it is in the best interests of its residents that the Village use the surplus funds to reimburse residents living in owner-occupied single family homes, town homes, residential condominium units and apartment units in apartment buildings they own, for the Village share of the 2015 real estate property taxes paid by said residents up to a maximum rebate of $2.2 million; and
WHEREAS, the Village has by Ordinance provided that the reimbursement of real estate property taxes paid by residents be rebated from the Home Rule Sales Tax revenues received by the Village and paid to the Village's Home Rule Sales Tax Fund.
NOW, THEREFORE, Be It Ordained by the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois, as follows:
SECTION 1
The above recitals are hereby incorporated into this Ordinance as fully as if restated in this Section in their entirety.
SECTION 2
The Village will reimburse a portion of the 2015 Village real estate property taxes paid in 2016 by qualified owner occupants of certain residential units in the Village upon application and presentation of proper documentation. To qualify, the owner-occupant must reside in the home as of the application due date, December 16, 2016.
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