By Joe Ragusa
BLOOMINGTON – The Bloomington City Council will vote on a proposed 2015 property tax levy at its first meeting in November.
Finance Director Patti-Lynn Silva told the council Monday night that if the city’s levy remains flat at $23.7 million, property taxes will go down because of higher property values. If the 2015 levy stayed the same as the 2014 levy, someone paying taxes on a property worth $165,000 would pay $11.37 less than they paid last year to the city.
Overall property taxes could still rise depending on what the other taxing bodies, like the county and the school board, decide to do.
Silva said that doesn’t mean the council shouldn’t consider a property tax hike, especially since there’s legislation pending in Springfield that would freeze property taxes.
“Certainly with the PTELL (Property Tax Extension Limitation Law) legislation pending, I’m all for squeaking in whatever possible revenue we can if there’s no impact to the taxpayer. To me, that’s a win-win,” Silva said. “It’s possible (state lawmakers) will freeze our tax levy for the next couple of years and at that time, during which time, you’d have to go to a referendum (to get a property tax increase approved).”
The city will vote on a tentative tax levy Nov. 9 and give final approval on Dec. 14, following a period of public input.
Joe Ragusa can be reached at [email protected].
