By Heart of Illinois ABC
BLOOMINGTON – Like Bloomington, the Town of Normal’s share of homeowners’ property tax bills is expected to remain the same next year.
Heading into an election season in which Mayor Chris Koos is running for re-election and three council seats are up for grabs next April, Normal town staffers recommend elected leaders approve a levy in which the government will collect a little less than $13.1 million dollars, which is the same as this year’s tax collection.
The proposed tax rate is about $1.47 per $100 of assessed valuation, which is also unchanged.
Town staffers said they expect no growth in taxable land values after nearly a 1% gain the previous year.
“While the cost of maintaining and delivering services continues to increase, during this time of economic uncertainty due to the ongoing pandemic, it is important to minimize any additional tax increases on residents and businesses within the Town,” staffers said in their report to the council.
“This proposed levy, while deferring some projects and expenses to future years, recognizes the financial strain of many in our community, yet will allow the Town to continue providing quality services and maintain town amenities in the next fiscal year,” the staff’s report said.
While the two municipal governments in the Twin-Cities plan no property tax hike, many homeowners can still expect a hefty tax increase from Unit 5 schools. The school board is considering a nearly 7.9% increase in the levy and a 27.5 cent boost in the tax rate because the district is selling working cash bonds to close a structural budget deficit.
According to the school district, the owner of a $170,000 home would pay approximately $160 more in property taxes to Unit 5 next year.
Also, the town council voted in September to double the local gasoline tax to eight cents per gallon to pay for various transportation projects, although town staff contends the tax increase is not resulting in higher prices at the pump.
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