By: Diane Benjamin
I’ve heard from numerous sources State Farm is not done downsizing their workforce. If local governments don’t tighten their belts, the flight of residents will do it for them.
These numbers were complied from what Normal reported to the Comptroller’s office: Source: Normal – Warehouse
Note the number of employees. Remember Normal claiming employees were cut. Also look at the EAV, according to the Financial Trends Report presented Monday the outlook is positive. PDF page 6 https://www.normal.org/DocumentCenter/View/15649/Financial-Trend-and-Condition-Report–2018-19
Below are some recent home sales in Normal. Every property I looked at selling above $300,000 was sold at a loss, some selling for less than $300,000 did also. Houses selling below $200,000 mostly sold for a minimal profit. This information came from Zillow and verified on the County website if available.
2608 Red Rock Rd Sold 3/18 for $318,000 Sold September 2019 for $290,000 (28,000)
2514 Fieldstone Court Sold 3/12 for $308,917 Sold September 2019 for $300,000 (8,917)
1724 Coralstone Way Sold 7/15 for $400,000 – Sold 7/18 $279,605 – Sold September 2019 for $231,000 (169,000)
1347 Pine Forest Dr Sold 8/18 for $312,500 Sold September 2019 for $289,500 (23,000)
2500 Heather Ridge Dr Sold 2/07 for $399,000 Sold August 2019 for $392,500 (6,500)
1113 Travertine Rd Sold 12/15 for $391,500 Sold August 2019 for $326,500 (65,000)
If your home is in this price range or higher and you haven’t filed a complaint to your assessed value, it may be too late. See the deadlines by township: https://webapp.mcleancountyil.gov/webapps/Assessor/publication_information.aspx
Meanwhile, Normal needs to keep an eye on their EAV or your property taxes will be raised to compensate!
This part of the Financial Trends Report is hilarious:
Of course property tax rates are “P”, the Trustees have proven over and over they aren’t afraid to increase them. The Community Comparison is a joke, people leave Illinois because of property taxes. They don’t move to another community because their rates are slightly lower.
See PDF page 7 – Pension Cost https://www.normal.org/DocumentCenter/View/15649/Financial-Trend-and-Condition-Report–2018-19
Normal doesn’t classify Police and Fire Pensions. Let’s go back to the Comptroller’s site – this table was compiled from the data Normal submitted:
Note both pensions were better funded in 2014 than they are now. Normal should have classified both as NEGATIVE. As reported yesterday, funding pensions is not required by property taxes. Normal just does it so they can claim they have no other choice but to raise your taxes. https://blnnews.com/2019/09/17/ah-public-comment/
Also on PDF page 7 is a POSITIVE outlook for debt. What are the facts?
Back to the Warehouse:
Debt isn’t just made up of money borrowed, pensions and post employment benefits are also debt. The chart was compiled from the data Normal submitted:
The numbers in red look suspicious. Note pension debt keeps growing while bond debt is decreasing slowly.
Look at the total debt. Next look at the population which evidently includes college students. How many people will actually be paying off the debt? It won’t be 54,000+.
This is what Normal thinks is a “Positive” outlook?
Normal may be hiring another employee only to convince you everything is fine. They won’t call that person a propagandist, but facts won’t matter.