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Truth in Taxation Public Hearing for the Proposed Tax Year 2026 Property Tax Levy and Determination of Estimated Levy
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Introduction
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This is the Village’s annual public hearing for the estimated 2026 Property Tax Levy (to be collected in calendar year 2027).
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Recommended Action
Hold the public hearing and receive comments.
Prior Board Action
The Board has taken the following prior action(s):
• The FY 26 Truth in Taxation was held on November 18, 2025 (ID 25-718).
• The FY 25 Truth in Taxation was held on November 19, 2024 (ID 24-549).
• The FY 24 Truth in Taxation was held on November 6, 2023 (ID 23-498).
Background
Each year, the Village Board adopts a tax levy to fund general Village operations, debt service payments, and mandatory employer contributions to the police and fire pension plans.
State statute, 35 ILCS 200/18-60, requires the Village Board to determine the estimated levy amount. One of the purposes of the public hearing is for the Village Board to make that preliminary determination. The Village Board retains full discretion to set the final levy amount as it deems appropriate.
A public hearing and additional posting are required when the increase is 5% or more, according to state statute. State statute, 35 ILCS 200/18-70, requires a public hearing to be held before the approval of a proposed property tax levy if the proposed levy for the next tax year exceeds 105% of the current tax year’s levy.
The Village portion, excluding the Oak Park Public Library, for the fiscal year 2027 (tax year 2026) will increase 7.94% from the fiscal year 2026 levy (tax year 2025) extended levy. Including the Oak Park Public Library’s request, the proposed tax levy is a 7.03% increase from the FY 2026 (tax year 2025) extended levy.
Excluding the Library, the Village’s total levy for next year, as published in the Truth in Taxation notice, calls for a 7.94% increase. The Village’s total levy, including the Library, for FY26 (tax year 2025) was $51871,807.00, and the estimated levy for FY26 (tax year 2026) was $52,297,928.
The following items account for the primary increases to the Village’s levy:
a) General Operations Levy of $20,333,000, an increase of $1,208,000 (6.32%)
b) Debt Service Levy of $6,325,761, an increase of $1,308,864 (26.09%)
c) Fire Pension Levy of $7,778,704, an increase of $304,500 (4.07%)
d) Police Pension Levy of $8,621,459, an increase of $344,753 (4.17%)
It is important to note that the Oak Park Public Library has a separate and independent Board from that of the Village. The Village merely provides a service to the Library and levies the amount it requests under the Village’s levy ordinance. The combined recommended levy (for both the Village and the Library) results in an increase of $3,647,117, or 7.03%, over the prior year.
For additional information regarding Oak Park Public Library budgets, please refer to the following link to their website: <https://www.oppl.org/about/budget/>
Timing Considerations
The Truth in Taxation hearing must be held at least 20 days before the Property Tax Levy is approved.
Budget Impact
This is a procedural requirement that must proceed the approval and adoption of the Village’s FY2027 budget. There is no additional expense or impact associated with this item.
Staffing Impact
There is no staffing impact associated with this item. The item aligns with the department’s core service delivery.
DEI Impact
The Truth in Taxation public hearing helps provide transparency with regard to property taxes within the Village.
Community Input
There has been no community input given in relation to this item.
Staff Recommendation
Hold the Public Hearing and receive comments.
Alternatives
There are no alternatives to this action.
Anticipated Future Actions
After conducting the Truth in Taxation Hearing, the Board can approve the Property Tax Levy for FY 2027.
Prepared By: Louis Hall-Makarewicz, Deputy Chief Financial Officer
Reviewed By: Kevin Bueso, Chief Financial Officer
Approved By: Kevin J. Jackson, Village Manager
Attachment(s):
1. Truth in Taxation Presentation
2. Truth and Taxation Public Notice