2022 Budget in Brief

MAJOR REVENUE SOURCES MAJOR REVENUE SOURCES SALES TAXES

INCOME TAX Income tax is state shared revenue that is distributed on a per capita basis through the Local Government Distributive Fund. The results of the 2010 census indicated that the Village’s population was 56,767. The income tax calculation for fiscal 2022 includes recently released 2020 Census data, which revealed a Village population of 58,703. 2022 revenue will increase due to higher population and higher per capital revenue estimates. The fiscal year 2021 estimate was based on $130.80 per capita and the fiscal year 2022 budget is based on $128.40 per capita. The per capita amounts utilized are published by the Illinois Municipal League. WATER, SEWER, STORM WATER REVENUE A comprehensive water, sewer, and storm rate study was completed in FY2015. As part of this study, water, sewer and storm sewer rates were recommended for the next five fiscal years. A new water rate study has commenced and will be completed in 2022. Budgeted revenues, based on the recommended rates, are sufficient to cover the budgeted operating and capital expenditures in FY2022.

The Village’s sales tax revenue consists of a 1% sales tax received from the State of Illinois, as well as a .75% sales tax imposed through the Village’s home rule status. In 2021, sales activity has been very strong, plus the addition of destination based sales tax. Previously, online merchants without a location in the Village did not report sales tax that was credited to the Village. Starting in 2021, the Marketplace Fairness Act required destination based sales tax for online merchants, so online retailers remit sales tax on the same basis as bricks and mortar retail establishments. PROPERTY TAXES The Village levies property taxes for the purposes of general corporate, Recreation & Parks, IMRF, FICA and police pension, as well as to fund a portion of debt service payments due on the Village’s outstanding general obligation debt. The Village has kept its levy flat for nine tax years, but reduced the levy by 3.03% for 2021. For 2022, the levy will increase in order to capture new growth and development that is being added to property tax rolls.

SANITARY SEWER FEES

STORM SEWER FEES

STATE INCOME TAX

SALES TAX

REVENUES

SALES TAX

$39,409,079

43.7%

WATER SALES & SERVICES

$17,124,676

19%

PROPERTY TAXES

$15,336,795

17% 13.6%

STATE INCOME TAX

$12,303,146

PROPERTY TAXES

STORM SEWER FEES

$3,638,611

4% 2.7%

SANITARY SEWER FEES

$2,430,518

2022 TOTAL EXPENDITURES: $90,242,825

100%

WATER SALES & SERVICES

42

VILLAGE OF ORLAND PARK | FISCAL YEAR 2022 BUDGET IN BRIEF