In addition, the mayor and the village board are committed to
running an open and transparent form of government. What
does that mean for residents? It is a seamless system of checks
and balances where all information is readily available for
viewing either on the village website or, if you prefer, by visiting
village hall and simply asking.
“We’re allocating dollars to programs that will help ensure
a bright future for our community and we’re doing it without
deficit spending,” explained McLaughlin. “Orland Park
not only received a AA+ bond rating from Standard &
Poors, but also received national recognition for our fiscal
management, budgeting policies and financial reporting.”
Why is this recognition and rating important? Every
municipality from time to time must borrow dollars. Having
a solid bond and credit rating, as the village does, ensures
that if and when the village needs to borrow funds, we
pay less interest when paying it back. In return, saving
every homeowner hundreds of dollars. Since 2009, we
have saved approximately $6.3 million in future interest
costs by issuing refunding bonds. This reaffirms Orland
Park’s credibility in being fiscally responsible. Since 2005,
the village’s finance department has consistently received
the Government Finance Officers Association (GFOA)
Award for Excellence in Budget Reporting.
Every governmental entity incurs and carries debt. The
Village of Orland Park does as well. But the debt we carry
is fairly minimal by most standards. Orland Park’s General
Obligation (GO) and other long-term debt as of Dec.
31, 2015 was approx. $109 million, with an equalized
assessed value (EAV) of more than $1.95 billion. To put
the village’s debt situation into perspective, compare it to a
homeowner having a mortgage balance of approximately
$16,170 on a home with a market value of $400,000.
During the last Telephone Town Hall Meeting, a question
was posed to listeners. Most knew how much of their
property tax dollars went toward the village to fund
services, but some thought the amount was much higher.
So, how much of your property tax dollar goes to the
Village of Orland Park? The answer? Seven percent.
Only 7¢ on the dollar funds all of the many services you
receive from the Village of Orland Park.
In addition, part of the 7 percent is refunded via the
village’s Property Tax Rebate Program. Eligible residents
who submitted completed applications have received
refunds of a portion of their property tax dollars in 11 of
the last 14 years. The total amount rebated since 2002 is
$36.7 million, not considering the $2.2 million that was
approved for the current rebate checks to be mailed out in
March of 2017.
The annual rebate is possible due to the village’s
commitment to fiscal responsibility, doing more with less
and avoiding deficit spending.
“The village’s dedication to its residents, fiscal responsibility
and maintenance of 100 percent transparency and
accountability are something we take very seriously and
strive to maintain,” said McLaughlin.
Questions about village finances can be directed to
The problem with government spending is that eventually,
you run out of other people’s money. This is a concept
that few government leaders seem to understand. But at
Orland Park Village Hall, we never forget it.
“One of our most important responsibilities is being fiscally
responsible and accountable to every homeowner,” said
Mayor Dan McLaughlin.
“That means spending wisely, doing more with less and
being committed to living within the means taxpayers are
already providing. That is how we’ve been able to operate on
a balanced budget for each of the 23 years I’ve been mayor.
We’ve refunded more than $36 million in property taxes to
homeowners and provided more than $500 million in road,
street and infrastructure improvements with no additional costs
to taxpayers while maintaining a flat levy for six years.”
A BALANCED BUDGET
23 Years in a Row
“We’re allocating dollars
to programs that will help
insure a bright future for our
community and we’re doing
it without deficit spending.”