If approved, the 0.75 percent tax would take effect July 1 and would be applicable to most purchases, excluding prescription drugs, vehicles and groceries.
The proposed tax is expected to generate $5.4 million in additional revenue for the Village—monies that will be used to fund Emerald Ash Borer removal and replacement, street repairs, and inflationary expense increases.
"Additionally, it will provide a safety net for an uncertain financial future for both the State of Illinois and Cook County and their impact on the Village," according to village officials.
The board will hear public comments during a reading of the ordinance during Tuesday night’s village board meeting. The item will be up for vote at the board's March 4 meeting.
Recent analysis has shown that Village expenses will soon begin to exceed revenue streams, and that leaders would have to look for new sources of income to offset the shortfall.
Officials honed in on the local sales tax, as a route to avoid a property tax hike. The tax is projected to cost the average household $123 annually. The tax would bump the sales tax in the Cook County portion of Tinley Park to 8.75 percent; 7.75 percent in Will County areas.
The new tax is expected to generate millions annually; roughly half of that is expected to come from residents, the other half from nonresidents who shop in Tinley Park, according to village officials.The Village has avoided the tax, even as other south suburban municipalities instituted similar ones.
“We have pushed it off as long as we thought we could,” Tinley Park Mayor Ed Zabrocki told Sun-Times Media.