Village of Orland Park 2017 Annual Report

n School Districts n Village of Orland Park n Fire Protection District n Library District n Other n Cook County n Debt Service n Police Pension n IMRF n FICA n Recreation & Parks n General Corporate Property taxes are levied on an annual basis to fund various costs incurred by the village, including public safety (partial funding), employee pensions (IMRF, FICA, Police Pension), recreation services and amenities (partial funding) and debt service (partial funding). Less than seven percent of a resident’s annual property tax bill goes to the village to fund these costs. PROPERTY TAXES $14,000,000 $10,500,000 $7,000,000 $3,500,000 $ 2010 2011 2012 2013 2014 2015 2016 2017 The village’s property tax levy has remained flat for seven (7) straight years. This means that, in total, taxpayers will pay the same amount to the village in 2018 as they did in 2012. The 2017 levy reflects debt service levy abatements in the total amount of $4,056,756. As opposed to levying property taxes for the payment of principal and interest on a portion of its outstanding debt, the village utilizes other revenue sources to make these debt service payments. PROPERTY TAX LEVY 5.35% 6.06% 3.47 12.98% 6.82% 65.32% 44 | VILLAGE OF ORLAND PARK 2017 ANNUAL REPORT PROPERTY TAX LEVY & RATE HISTORY