Palos Park Requests 4.99 Percent Levy Increase

The voted to request a levy of $1.637 million from village taxpayers on Monday night.

That figure includes $1,238,195 for the village and $399,000 for the library. The numbers are a 4.99 percent increase over last year.

The figures are essentially a request made to the county for the amount of property tax dollars that will be handed over to the municipality. Or, as Commissioner Kent Oliven put it, "the village's portion of your property taxes."

It is a common practice to request more than is needed to account for any changes in equalized assessed valuation or the consumer price index. The amount that can be received is capped, so a taxing body does not receive more than it is entitled.  

The amount of revenue Palos Park generates from property taxes will likely only account for about 21 percent of the general fund, said Barbara Maziarek, the village's finance director.

The funds generated from the levy are used for a variety of departments including public works, police protection and administration expenses.

Taxing bodies are required to hold public hearings when a levy increases by 5 percent or higher. Because the request made was an increase of 4.99 percent, a public hearing was not required.