Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
University Park trustees approve modest property tax levy increase tied to pension costs
Summary
Trustees approved an ordinance levying taxes for FY 2025–26, a small increase the village finance presenter said is driven mainly by rising pension contributions and actuarial requirements; trustees asked for long-term pension projections and reserves.
University Park trustees voted to approve an ordinance levying property taxes for the fiscal year beginning May 1, 2025 and ending April 30, 2026, a measure the village’s finance presenter said would modestly raise the levy to cover rising pension obligations.
The finance presenter said the 2024 levy was $10,300,000 and the proposed 2025 levy is $10,375,345, which he characterized as a 0.72% true increase compared with last year and an increase of about $75,000 overall. He estimated the change would add roughly $20–$25 to an average property tax bill…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
