By Adam Studzinski
NORMAL – The Town of Normal is expecting to increase its property tax rate by about 2 percent for the next year.
Deputy City Manager Pamela Reece explained the town plans to use the extra $660,000 in revenue to help fund police and fire pensions.
“The overall impact to a property owner in Normal, if we looked at average home price of $165,000 that property owner would be paying $13 more in 2017 than the 2016 rate,” she said.
Reece added Normal wants to fully fund its police and fire pensions by 2040.
“And we want to stay on track with that,” Reece said.
Reece said even with this increase, Normal will still have the lowest tax rate compared to similar sized towns in Central Illinois.
The council will vote on the tax rate in December.
Adam Studzinski can be reached at adam.studzinski@cumulus.com.
