On the Agenda: Budget Hearing

A public hearing on next year's budget is leading the items on Monday night's village board meeting agenda.

According to Village Treasurer Don Pearce, village leaders have worked in recent weeks to lower the year-over-year budget expenditure increase from about 3.5 percent to 1.54 percent.

However a severe drop in revenue will result in an 8 percent tax levy increase next year, should village board members vote in the proposed budget – which is still lower than the 10.8 percent tax levy increase that was on the board previously. 

Pearce reported last month that mortgage tax revenues have dried up in a short span: five years ago, he said, the funds brought in $1 million, whereas this year about $250,000 is expected.

Two other public hearings are scheduled: one about a proposal to control parking on Beach Street, and another to codify the village's definition of "resident."

Monday's meeting begins at 7 p.m. at village hall.

See the agenda as an attached PDF.