Oak Forest fights to keep lid on levy

With state tax revenue down this year, Oak Forest is looking to increase its tax levy to meet its expenses for next year.

[Colloquy]

From the article...

With state tax revenue down this year, Oak Forest is looking to increase its tax levy to meet its expenses for next year.

But the increase will not be as much as initial projections, city officials say.

City finance director Colleen Julian said income tax revenue from the state is down about $379,000 and sales tax revenue is down $327,000.

The city also had about $3.6 million in investment losses in the city employee pension funds this past year, requiring the city to put about $365,000 extra into the funds to help make up the difference.

All told, Julian said the city is looking at levying an extra $2.3 million to make up those and some other expenses, a 35 percent increase from last year.

The city's tax levy is the amount in property tax revenue it requests from Cook County each year. The request must be received by the county by the last Tuesday in December.

[Just Asking]

This is exactly what will be happening in Midlothina if you vote YES for Home Rule.

[kc kid]

I need a drink!