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Terrace Park council adopts 2025 tax budget, cites water-assessment revenue and Elm Street water-line costs
Summary
Council approved Resolution No. 6-1-2024 adopting the 2025 annual tax budget as an emergency, projecting roughly 6% revenue growth (mainly from a water assessment) and a 9% rise in expenditures tied to Elm Street water-line work and an added police position.
At the June 18 meeting, Finance Chair Jeff LeMay introduced Resolution No. 6-1-2024 approving the Village of Terrace Park’s 2025 annual tax budget and declaring it an emergency. LeMay told the council the village is projecting about a 6% increase in revenue — largely from a water assessment intended to fund water-line repairs — and a…
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