Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Levy topic
No spam. Unsubscribe anytime.
Minoa officials outline tax-levy math; village may need local law and public hearing to override cap
Summary
Mayor Brazill told the board the village's taxable value is $314,442,580; at $8.95 per $1,000 this would generate $2,814,261, while the tax-levy limit for 2026-27 is $2,472,860, meaning an override would require a public hearing and adoption of a local law.
Mayor Brazill reviewed the village's taxable assessed value at $314,442,580 and ran the math that at the current tax rate of $8.95 per $1,000 the levy would generate $2,814,261 in property tax revenue. He told the board that the Tax Levy Limit for the village in the 2026-27 fiscal year is $2,472,860 and that the village would need to hold a public hearing and pass a local law to exceed that limit.
Board members discussed the levy limit as a constraint on the preliminary budget and the possible need to present an override to the public. No formal vote to pursue an override was recorded at the workshop; the matter will be subject to follow-up discussion and any legally required public hearing if the board decides to proceed.
