Village of Orland Park 2017 Annual Report

SALES TAX Sales tax (1%) collections are projected to remain flat, and home rule sales tax (.75%) collections are projected to decline, based on the current economic outlook and trends in actual sales tax revenue collections during FY2016 and FY2017. Sales tax is utilized to fund general operations of the village; home rule sales tax funds capital, debt service payments and, when approved, the village’s property tax rebate program. n 1% Sales Tax n .75% Home Rule Sales Tax $22,000,000 $16.500,000 $11,000,000 $5,500,000 $0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Budget 2018 Estimate 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 DEBT Orland Park’s outstanding GO bonded debt as of December 31, 2017 amounted to $69,925,000, equating to a GO to EAV ratio of 3.41 percent. This ratio is comparable to a homeowner having a mortgage balance of approximately $13,640 on a home with a market value of $400,000. 3.84% 3.41% 3.46% 3.03% 2.87% 3.12% 4.04% 4.96% 4.76% 4.48% Maximum per Board Authorized Debt Policy - 8.625% 2017 ratio is estimated based on projected 0% growth in EAV from 2016 to 2017 orlandpark.org | 45 SALES TAX AND DEBT

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