Title
Proposed 2024 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 2, 2024, at the Village of Orland Park Village Hall.
The December 2, 2024, Board of Trustees meeting agenda includes an item approving the 2024 property tax levy that is reflected in the FY2025 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 2024 levy does not exceed 105% of the 2023 extended levy. In the interest of transparency, a public hearing notification was published.
The Village tax levy for operations and debt service totals $13,300,000. This levy amount is 0.93% lower than the 2023 adopted levy.
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 Village’s property tax rate will decrease by approximately 0.01% with the proposed tax levy.
The Board of Library Trustees, a separate taxing jurisdiction, has established a tax levy for operations totaling $7,082,000. This is a total increase for the Library of 4.25%.
Recommended Action/Motion
I move to adjourn the public hearing for the 2024 property tax levy.