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Terrace Park council previews ballot levy and hears first reading of 2026 budget
Summary
Council announced a second reading of a proposed replacement/increase levy (Resolution 4-2-2025) and held a first reading of the 2026 tax budget (Resolution 5-1-2025); officials said revenues are flat while expenses rise about 15% due to capital items including an EMS vehicle estimated near $300,000 and an Elm Street water-main project.
Councilmember LeMay updated the Village of Terrace Park Council on May 13 about a planned tax levy and the first reading of the 2026 budget.
LeMay introduced the second reading of Resolution 4-2-2025, describing it as a proposal “declaring it necessary to proceed with a replacement with an increased tax levy in excess of the 10 mil limitation.” He said the council plans to hold two town halls in September and October to explain how the tax bill is calculated and to provide context for voters. LeMay said information will also be posted in the village newsletter beginning in August or September.
LeMay also presented a first reading of the 2026 annual tax budget (Resolution 5-1-2025). He told the council that from a revenue standpoint the budget is “essentially flat,” while expenses show about a 15% increase, driven largely by two capital items: upgraded EMS vehicles and an Elm Street water-main project expected in 2026. LeMay said the EMS vehicle line item is in the budget at roughly $300,000. He said the revenue increase is intended to keep the village’s cash balance from dropping below prudent levels while funding planned capital needs.
No formal vote on the levy was recorded at the meeting; the tax budget received a first reading as required by council procedure. Council plans public outreach ahead of any ballot submission and noted petition deadlines for state ballot challenges will affect timing.
