Oak Park's Possible 8.9-Percent Tax Increase: 5 Things to Know

A significant increase in Oak Park property taxes could allow for a 2017 village budget that would support infrastructure projects and address shortcomings in its firefighter and police pension funds.

The 8.9-percent tax increase could generate millions of dollars the village sorely needs, the Chicago Tribune reported. Here are five things that you need to know about the changes, which are expected to become final next month with the solidification of the 2017 village budget.

1. Let's break down the numbers.

The main reason for the tax increase is to further support Oak Park’s infrastructure projects and to help with pension funds, including the police pension fund and firefighter pension fund. A village memo tallied up the numbers: the increased taxes would generate $4,264,652 for the village, which would bring the village’s total levy up to $30,884,469 for the 2017 fiscal year. Of that money, $468,510 would go toward the police pensions, $2,027,072 would go toward the firefighter fund and $2,170,000 would go to the village’s general operations fund.

2. The firefighter pension fund is definitely in need of some love.

"The finance committee has made a recommendation that the firefighter pension fund receive an additional $1.5 million this year," Village Manager Cara Pavlicek told the Tribune. "It is a first step toward beginning to work more aggressively to bring [the firefighter pension fund] up to the same level as the police officer's fund, and then to have a multi-year plan to address the funding level of [those funds]." Pavlicek said that the firefighter pension fund is less than 40 percent funded.

3. The police pension fund isn’t doing too hot, either.

This one, Pavlicek said, is just more than 50 percent funded. Bob Tucker, a village trustee, said he thought it was the responsibility of the Oak Park community to fund these pensions at the right level. Mayor Anan Abu-Taleb agreed.

"In my view, we have a pension situation that's being dictated by the state, and it's up to our municipality to fulfill this promise,” he told the Tribune. “It's embarrassing to have our pension below 40 percent for the firefighters. It's important for us not to sugarcoat it."

4. ...And then there’s the infrastructure.

Abu-Taleb said it was important that Oak Park anticipates the village’s needs before things get too bad.

"We have aging infrastructure," he said. "We can wait until we are in a bad need, or we can prepare for the future. Right now, I feel we have the responsibility to prepare for the future."

5. Do village residents get a say?

Residents can attend a public hearing that the village board plans to hold Nov. 21, Pavlicek said. The board is expected to adopt a final 2017 budget by Dec. 5.

Have any other questions about the tax levy? Let us know in the comments, and we'll do our best to answer them for you.

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