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Finance committee hears property-tax timing update; Now Arena reports record ticket sales
Summary
Finance staff said a late December county estimate of 'maybe $2,000,000' was recorded to 2025 and a larger balance was expected in January; Now Arena reported a record year for paid tickets in 2025 with a recent AEW event drawing about 9,000 and ticket sales up roughly 20% year-over-year.
At the Finance Committee meeting on Jan. 26, finance staff provided an update on property-tax receipts, saying November and December reports include a late-December estimate from the county that was "maybe $2,000,000," while the larger balance from county distributions was expected in January. Staff said the village will book that revenue back to 2025 because that is the period to which it belongs.
Committee members were told to focus on the December report in the packet because it reflects the large year-end entry; staff said they received an email that additional county distributions were expected and that most of the revenue would be posted in January.
Separately, Now Arena manager Ben briefed the committee on event performance: he said AEW pro wrestling drew about 9,000 attendees and that the venue set records for paid tickets in 2025, with ticket sales up about 20% over the prior year. Ben also noted a USA volleyball event as the venue’s largest and said recent monster truck shows had sellouts; he said an upcoming professional bull-riding event was expected to break previous records.
Next steps: Finance will monitor county distributions and reflect final receipts in the 2025 books per accounting guidance; the Now Arena report was received and filed.
