Terrace Park homeowners face a Nov. 3 vote on renewing a 5.58-mill operating levy that funds nearly a third of the village's budget.

The levy, listed as Issue 31 on the Hamilton County Board of Elections ballot, would generate $713,000 a year for five years. That money pays for police, fire, EMS, street and sidewalk maintenance, and village administration, according to a levy information document published by the Terrace Park Finance Committee.

Because the measure is a renewal, it would not raise or lower current tax rates.

What it costs

The levy costs homeowners $123 per $100,000 of Hamilton County assessed property value. Assessed value equals 35% of the county auditor's market value. For example, 35% of a $285,000 market value works out to roughly $100,000 in assessed value.

Village operations account for 17% of a Terrace Park homeowner's annual property tax bill, according to the finance committee document. Mariemont public schools make up 63%, and 12 Hamilton County levies cover the remaining 20%.

How it compares

Councilmember Regina Sharp wrote in the finance committee document that Terrace Park charges no personal income tax and no garbage-collection fees. Comparable villages such as Mariemont, Madeira and Wyoming levy income taxes or charge those fees.

What happens if it fails

If voters reject the renewal, the village would lose $713,000 in annual operating revenue. Council and village administrators would need to find cuts to offset that gap, according to the finance committee document.

Council vote and background

Terrace Park Village Council approved Resolution 7-1 on July 6, placing the levy on the ballot. Council members Gaskey, Ingebritson, Lindell, Sharp and Wirthlin voted yes. Council member Lehman's vote was recorded as blank. Mayor Thomas M. Tepe Jr. signed the resolution.

Voters first approved the 5.58-mill levy in November 2021, according to the village's 2023 tax levy certification to the Hamilton County Auditor. At that time, the levy generated about $680,000 a year. The higher $713,000 figure reflects growth in assessed property values, not a rate increase.

Sharp, who serves on the finance committee and village council, wrote that the village expects to meet its 2026 budget targets while maintaining competitive employee salaries set under an annual cap determined by council.

Terrace Park residents in Precincts A and B who have questions can contact Sharp at [email protected].