By: Diane Benjamin
Tonight’s packet: https://www.normalil.gov/ArchiveCenter/ViewFile/Item/4519
PDF page 49:
Depending on the assessed value increase for your property, taxes should stay about the same as last year.
If Unit 5 raises property taxes Normal wins big. Remember TIF districts? Normal has 5. Any increase in property taxes for TIF properties goes to the TIF, not Unit 5. The Tax Increment Finance districts win, Unit 5 taxes everybody else more to make up for the missed money.
Chris Koos did a video in support of Unit 5’s tax increase.
Meanwhile, tonight Normal is paying interest on outstanding bonds, a little principal is being paid too. This bond interest is most likely associated with Uptown, it’s only $1,245,775.42. Other payments are being made to water and sewer bonds. I bet you can’t wait for Uptown 2.0!
One thought on “Normal isn’t raising property taxes because they want Unit 5 to raise them”
My assessed value went up 9.24% so my taxes will go up as will most of residential property in McLean County becasue of the County passed Multiplier of about 7%.