Title
Proposed 2023 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 4, 2023, at the Village of Orland Park Village Hall.
The December 18, 2023, Board of Trustees meeting agenda includes an item approving the 2023 property tax levy that is reflected in the FY2024 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 2023 levy does not exceed 105% of the 2022 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 $13,425,518. This levy amount is 3.60% lower than the 2022 adopted levy.
The Library tax levy for operations and debt service totals $6,793,000. The estimating resolution included a levy for the Library in the amount of $6,825,320. This was a high end estimate as the Library Board was considering their levy after the adoption of the Estimating Resolution.
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 and the triennial reassessment.
As a result, it is anticipated that the property tax rate will decrease by approximately 12.31% with the proposed tax levy.
Recommended Action/Motion
I move to adjourn the public hearing for the 2023 property tax levy.