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PowerPoint 2025 Budget

The 2025 municipal budget outlines expected revenues and expenditures, emphasizing the importance of tax dollars in funding local services such as public safety and infrastructure maintenance. Key figures include a total budget of $40,100,931, with significant increases in pensions and insurance costs, necessitating adjustments in tax levies. The proposed tax increase for the average residential assessment is $44, reflecting a 2.47% increase in the tax levy, while the assessed value of properties has risen significantly.

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Alexis Tarrazi
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2K views11 pages

PowerPoint 2025 Budget

The 2025 municipal budget outlines expected revenues and expenditures, emphasizing the importance of tax dollars in funding local services such as public safety and infrastructure maintenance. Key figures include a total budget of $40,100,931, with significant increases in pensions and insurance costs, necessitating adjustments in tax levies. The proposed tax increase for the average residential assessment is $44, reflecting a 2.47% increase in the tax levy, while the assessed value of properties has risen significantly.

Uploaded by

Alexis Tarrazi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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2025 Budget

Presentation
WHAT IS A MUNICIPAL
BUDGET?
Think of it like the township’s checkbook. Just
like your household budget, it shows what we
expect to bring in and how we plan to spend it.

WHAT IT MEANS
TO YOU?
Most importantly, these are your tax dollars.
The budget impacts everything: fixing potholes,
keeping the public safe, keeping the park lights
on, plowing snow, you name it.
• 2024 Revenues not available in 2025
• Municipal Relief Aid $ 339,211
• Liquor license sale $ 483,258
• Property sale $ 626,010

Before the • Statutory and other significant increases


doors • Pensions $ 377,386
opened • JIF $ 83,488
• HIF $ 344,839

• That is $ 2,254,192 that need to be


accounted for in the 2025 budget to
maintain similar service levels
Legislative • Spending Cap
• The maximum increase for
• Levy Cap
• The maximum increase
Caps in cap spending is
$1,456,897
in the levy is $
2,811,609 given our
• Required the movement of exceptions for
certain expenses outside • health (287K)
the cap • Pension (303 k)
• Shared Services- $ • PY cap bank ($
130,570 1.6M)
• Insurances- $ 282,173 • That equates to a
2.47 % increase in
the tax levy
• Obviously more
than 2%- but within
the intent of the law
Where the
money
comes from
General Govt 3,463,902.00 8.64%
Land use 691,853.00 1.73%
Public Safety 10,363,721.00 25.84%
Public Works 4,264,727.00 10.63%
Debt Service 3,107,000.00 7.75%
UCC 1,313,000.00 3.27%
Utilities 2,503,950.00 6.24%
Where the Insurance 4,456,000.00 11.11%
money Reserve for Uncollected Taxes 1,100,000.00 2.74%
goes Recreation/Health/ Social Services 2,459,329.00 6.13%
Pension/Fica 5,359,161.00 13.36%
Capital 850,000.00 2.12%
Grants 103,945.00 0.26%
Deferred Charges 64,343.10 0.16%

40,100,931.10
Statutory 9,893,024.90 25%

Contractual 24,057,871.00 60%


Governing
body Utilities 2,503,950.00 6%
control Dept Operating/
Discretionary 3,646,085.20 9%

40,100,931.10
Property
Classification
s

Who pays
the taxes?
School 1.383 64.54%
County 0.368 17.17%
Taxation Local 0.307 14.33%
The 2024 Fire 0.057 2.66%
Tax Bill
Local OS 0.028 1.31%

2.143
2024 Assessed Value 8,376,707,000
2025 Assessed Vaue 9,062,678,900

Increase 685,971,900

Assessed Tax Point ( 1 cent) 906,268


2025 Proposed Tax Increase 0.008
Value Increase w/o Assessed Value Inc 0.033
and
Taxes Average Assessment (Residential) 550,000

2025 Proposed Inc for Average


Residential Assessment $ 44.00

w/o Assessed Value Inc $ 181.50


Legislative Actions

INTRODUCTION- 4/22 DLGS REVIEW PUBLIC HEARING/


ADOPTION- 5/27

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