The Silver Bay City Council held the annual Truth In Taxation public hearing last Monday night. City budget and tax levy information that was shared at the meeting is available online on the City’s web page.
The total budget expenditures for the coming year are, as indicated in the draft proposal for 2026, $34,788,310, which is a 7% increase over the 2025 budget. The total tax levy for 2026 is $2,003,845, which represents an 8.2% increase over 2025. $84,875 relates to city operations related to services that the city provides for Silver Bay residents. $66,295 will go to debt service payments. The total levy is 5.8% of the city’s budget, with the other 94.2% of revenue coming from grants, aides, and user fees.
The question on every property owner’s mind is, understandably, “How does all of this impact my property taxes?” People owning a home with an estimated market value of $150,000 can expect to see an increase of $41.94 spread out over the coming year. For homes valued at $200,000, there will be an increase of $61.49. A home valued at $300,000 will see an increase of $100.58, and property taxes for a home valued at $400,000 will see an increase of $139.67.
There is a comprehensive list of budget highlights and equipment, project purchases available online, including a list of big ticket items like the city-wide street improvement project. These expenses do not impact the levy. Readers are encouraged to check out this related documentation. The council voted to accept both the budget and tax levy proposals.
In other business, the council voted to certify the delinquent tax list for 2025. There are five properties considered delinquent within the confines of the city. The deadline to pay these taxes is December 30th. Letters have been sent to each property owner informing them of the amount owed. If the delinquent amount is not received in full by the deadline date, the amounts owed will be certified to Lake County to become part of the 2026 property tax. There are a number of properties in the city that are delinquent in paying for special assessments related to the citywide street and utility improvement project. These amounts will also be certified to Lake County.
The city has received an Urban and Community Forest Services Grant from the DNR in the amount of $136,750. The grant funds will be used to conduct and adopt an Urban Forestry Management Plan that will help fund the removal and replacement of ash trees. The council voted to adopt this resolution.
You have a city administration and staff that have worked hard over the course of the past year to improve the quality of life for all Silver Bay residents. A short list of projects that have been taken on includes the Multi-Modal Trailhead Center, the Water Treatment Facility upgrades, the Citywide Street Improvement Program, the CASH 32 Project, the Boathouse Bay and Golf Course Housing Developments, and work to secure funding to help solve the Perimeter Ditching issue. All of these efforts require the time and energy of city administration and staff who go above and beyond the duties of their normal jobs. As a long-time observer of the way city government functions, I commend Lana and the members of the city council for their careful deliberations, the indepth discussions that they have, and the decisions that they make on the Silver Bay community’s behalf.
Please note that there is a time change for city council meetings. The next meeting is scheduled for January 5th and will start at 6:00 pm.
