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Finance committee recommends policy updates: 2.9% levy increase, abatement, fee review and administrative surplus disposal
Summary
Staff recommended multiple updates to budget policies as part of the 2026 kickoff, including a recommended 2.9% property-tax levy increase tied to CPI, continued abatement of two water bonds, a planned fee-and-fine review, use of insurance-pool reserves for premiums and safety work, and administrative disposal of low-value surplus property.
Staff presented a set of recommended policy changes tied to the 2026 budget kickoff and asked the committee for guidance. "We would recommend that we would be increasing the property tax levy by that 2.9," a staff member said, referring to the Department of Revenue’s announced CPI limit for the levy year. The committee discussed continuing the village’s practice of abating the taxes on two water bonds issued in 2020 and 2023 and paying that debt service from water…
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