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Shorewood holds first reading of 2025 tax levy; public hearing set for November
Summary
Finance staff presented the first read of the 2025 tax levy, proposing to keep the rate at 0.2582 and use assessed‑value growth to cover pension and general‑fund needs; the village will hold a public hearing at the second November meeting and then approve the levy.
Finance staff presented the first reading of the village’s proposed 2025 tax levy during the Oct. 28 meeting and explained the recommended approach to preserve the current levy rate while using assessed‑value growth to fund pension and general‑fund needs.
“This will be the first read of our 2025 proposed tax levy… so that we can keep that rate the same, that 0.2582, while taking advantage of some of that growth in EAV,” the finance representative said. Staff noted the actuarial recommendation caused a change in pension figures and that the village will adjust the levy downward if the county clerk returns a higher rate than intended; the village cannot increase the rate beyond what is submitted. A public hearing is scheduled at the second November meeting, at which the board is expected to consider adoption.
No questions were raised at the first reading. The item will return for the public hearing and final action in November.
