Tag: Normal TIF Districts

Written by Diane Benjamin - editor

Normal isn’t raising property taxes because they want Unit 5 to raise them

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 […]

Written by Diane Benjamin - editor

The other 4 Normal TIF reports

By: Diane Benjamin I reported on the Uptown TIF on 10/15/2021: https://blnnews.com/2021/10/15/uptown-tif-isnt-a-success/ Normal has 4 other Tax Increment Financing Districts. The theory of TIF’s is the increased value of redevelopment will repay the money borrowed or spent. The Town likes to declare success based on the private money invested in redevelopment. That amount is immaterial […]