Terrace Park council adopts 2025 tax budget, cites water-assessment revenue and Elm Street water-line costs

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 roughly 9% increase in expenditures driven by Elm Street water-line work and inclusion of a projected seventh police officer.

LeMay said the Elm Street project represents the principal capital cost in the budget, with the village’s portion of a grant for the Elm Street water line estimated at $100,000. He described the budget as conservatively estimated on both revenue and expenditure lines and said the council had sufficient funds accounted for maintenance, salaries and capital needs.

The council moved to adopt the resolution as an emergency; the motion was seconded and the roll-call vote recorded unanimous 'Aye' votes from members present. No amendments or conditions were added during the floor discussion. Specific line-item figures besides the $100,000 Elm Street grant share were not provided in the public remarks recorded at the meeting.

The resolution was adopted at the meeting and will proceed according to normal municipal budget implementation steps; a prior public hearing on the budget was noted by the clerk.