Committee of the Whole, 27 Oct 2026: New Tax Options on the Table
Northbrook trustees will review first-quarter finances and weigh whether to create or raise local taxes — including a prepared food and beverage tax, liquor tax, gas tax, streaming tax, or real-estate transfer tax — to address pension funding, capital needs, or the General Fund.
Key items
- New Tax Revenue Options — Trustees could move toward creating or raising local taxes that would directly affect what residents pay on meals, gas, home sales, and streaming services.
- Home Rule Sales Tax Increase — A higher sales tax would raise costs on a broad range of everyday purchases made within Northbrook.
- Public Safety Pension Funding — Any new tax revenue may be directed toward accelerating pension obligations for police and fire, a long-term fiscal liability for the village.
- First Quarter FY2027 Financial Review — The quarterly report will show whether village revenues and spending are on track, providing context for the tax discussion that follows.
Full agenda — click any item to expand
First Quarter FY2027 Financial Review
Village staff will present an overview of financial highlights for the first quarter of Fiscal Year 2027, covering economic indicators, a financial summary, a schedule of investments, and an overtime summary. This report gives the board a snapshot of how the village's finances are tracking against the annual budget through the first three months of the fiscal year.
Discussion on Options for Future New Tax Revenue
Staff will present several options for generating new local tax revenue, including an increase to the Home Rule Sales Tax or the creation of a Prepared Food and Beverage Tax, Liquor Tax, Local Gas Tax, Streaming Tax, or Real-Estate Transfer Tax. The board will consider how any additional revenue could be applied — specifically to accelerate funding of public safety pensions, support capital projects, or help balance the General Fund. No decision is scheduled for this meeting; it is a discussion of options.