Normal eyes some property tax relief amid pension stress

 

The Town of Normal is planning on a slight decline in property tax bills for the coming year. (Pixabay)

 

By Howard Packowitz

NORMAL – After a big jump in property taxes this year, the Town of Normal is trying to provide some relief despite continuing pressure to fund pension plans for police and firefighters.

A staff report to the town council said the government is able to hold the line on taxes because there are fewer employees, which reduces town contributions to the Illinois Municipal Retirement Fund, Social Security, and Medicare.

Assuming a 1.27 percent increase in taxable land values, the tax rate is expected to drop about a penny-and-a-half to $1.4757 per $100 of assessed valuation.

Staffers said property tax bills would drop $7.50 for the owner of a $165,000, compared to about a $44 jump this year to fund pensions for first responders.

The proposed levy to be presented Monday night to the town council would have the government collect almost $12,958,494 in property taxes next year, unchanged from the current year.

The proposed tax levy for the Normal Public Library is also unchanged at $3,903,800.

The council will consider final levy recommendations at its December 3 meeting.

Howard Packowitz can be reached at [email protected]

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