The Village of Oak Lawn

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Residents should be aware of the new sales tax rate effective January 1st, 2016. Information regarding the change are as follows:

 
  1. Cook County responsible for the 1% increase from 8.75% to 9.75 effective 1/1/2016. No change in the other components of the sales tax rate.
  2. No impact on food, prescription drugs which are taxed at 2.25%
  3. No impact on cars or trucks (or any titled good) which are taxed at 7.25%
  4. Oak Lawn ranks 19th out of 1,299 Illinois municipalities in total sales tax revenue with its diversified tax base
  5. 2015 revenues are estimated to be 8% above the 2014 sales tax figure ($15.796 million as compared to $15.729 million)………Note that there is a typo on the Municipal Sales Tax Summary which indicates a figure of $14,698,133
  6. Oak Lawn averages $1.3 million of sales tax revenue each month and just exceeded the previous record year of 2007 (a Village rate of 1.50% was in 2007 as compared to 1.75% in 2015) on an inflation and rate adjusted basis for the first time

Municipal Sales Tax Summary 1

Municipal Sales Tax Summary 2

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 https://www.revenue.state.il.us/app/trii/index.html

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