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Oak Park finance committee discusses value-based investments and tax levy increases
['Sydney Lovan']
Wednesday Journal
At the finance committee meeting on Aug. 6, Bueso and Deputy CFO Louis Hall-Makarewicz presented drafts for the tax levy, investment and external agency policies.
The village board members on the committee voted to recommend the tax levy draft to the village board but kept the investment and external agency policies for further discussion before they are ready to move forward.
Tax levy policyThe tax levy draft policy outlines a recommended framework for the finance department to follow when creating its overall budget presentation but does not represent the tax levy itself as that is a decision made by the board.
The Oak Park Public Library is managed by an independently elected board but its tax levy is run through the village government.
In 2023, there was a 0% increase in the tax levy which created somewhat of a deficit that would require almost double-digit increases to make up said Bueso.