An Ordinance Adopting the Budget for All Corporate Purposes of the
Village of Oak Park, Cook County, Illinois in Lieu of the Appropriation
Ordinance for the Fiscal Year Commencing on the First Day of January,
2026 and Ending on the Thirty-First Day of December, 2026
D.
Overview:
The Village Board held a Public Hearing on the Proposed Fiscal Year 2026
Budget and several Finance Committee and Board Meetings were held to
discuss the budget in detail with elected officials. This Ordinance is the final
action for the adoption of the Budget.
An Ordinance Approving the Village of Oak Park’s 2025 Tax Year
Property Tax Levy
E.
Overview:
Concurrent with the recommended adoption of the FY26 Budget, staff has
calculated the revenue needs for all funds of the Village based upon the final
recommendations contained in the FY26 Budget, as well as all Ordinances
presented to abate the collection of property taxes for debt service due to the
availability of other sources of revenues. In the case of funds fully or partially
funded from property taxes, State law requires that property taxes are
calculated after considerations of all other funding sources have been reviewed.
An Ordinance Providing for the Abatement of $74,975 Against the 2025
Tax Levy (2012A General Obligation Corporate Purpose Bonds)
F.
Overview:
On an annual basis, Village staff recommends the abatement or cancellation of
various tax levies that were originally pledged to pay the debt service of a
specific bond issue. By default, whenever a general obligation (GO) bond is
issued, the annual debt service is automatically levied by the County unless the
Village direct the Cook County Clerk’s Office to abate some or all of the levy
amount. When other non-property tax Village revenues are available to pay all or
a portion of the debt service, the Village abates the levy.
An Ordinance Providing for the Abatement of $476,888 Against the 2025
Tax Levy (2015B General Obligation Corporate Purpose Bonds)
G.
Overview:
On an annual basis, Village staff recommends the abatement or cancellation of
various tax levies that were originally pledged to pay the debt service of a
specific bond issue. By default, whenever a general obligation (GO) bond is
issued, the annual debt service is automatically levied by the County unless the
Village directs the Cook County Clerk’s Office to abate some or all of the annual
levy amount. When other non-property tax Village revenues are available to pay
all or a portion of the debt service, the Village abates the tax levy.
An Ordinance Providing for the Abatement of $938,318 Against the 2025
Tax Levy (2016D General Obligation Corporate Purpose Bonds)
H.
Overview:
On an annual basis, Village staff recommends the abatement or cancellation of
various tax levies that were originally pledged to pay the debt service of a
specific bond issue. By default, whenever a general obligation (GO) bond is
issued, the annual debt service is automatically levied by the County unless the
Village directs the Cook County Clerk’s Office to abate some or all of the annual
levy amount. When other non-property tax Village revenues are available to pay
all or a portion of the debt service, the Village abates the tax levy.