By: Diane Benjamin

This slide is on the Unit 5 video from last night: See 3:33:59 https://vimeo.com/event/4378038

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What they are trying to say is the RATE of increase has slowed down while making it look like the actual increase isn’t happening.

This slide is at 3:39:37

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The EAV growth amounts to an increase of 13.4%. See slide at 3:32:45.

Yes every government official has visions of pots of gold being added to their coffers.

Look at the EDUCATIONAL line. The rate increases from $2.70 to $3.40% after telling you 2 years ago it would go down.

Of course the total rate decreases because they are taxing a larger valued chunk of properties.

I choose a random property in Normal:

This year’s Net Taxable Value was $64,916 (Total house value is $194,748)

The Unit 5 tax rate last year was the above stated 5.29 for a total of $3,435.12.

If that house was assessed an increase of 13.4% this year, next year the Net Taxable Value will be ($220,844 / 3) $73,615.

$73,615 x 5.07% = $3,732.28. That is almost a $300 increase from this year. Of course McLean County and Normal are taking more too. Expect everybody else on your tax bill to do the same.

The Taxable Value might have increased far more than 13.4%.

Below is the Unit 5 tax history on this home. By today’s standards this is a modest home the owners are being taxed out of.

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The State of Illinois is supposed to fund schools. They can’t because lavish pensions are swallowing revenue while nobody plans to fix that problem.

If you missed this comment Monday night from Sheila Montney at Monday’s meeting, just hit play. Previously she mentioned the increase revenue Bloomington is collecting. She went on to state the property taxes she paid in California compared to here. It’s crazy: