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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 Lib...
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