Many Former Mitsubishi Workers May Remain In Community
Though property tax receipts from the soon to be vacant Mitsubishi auto plant will likely take a hit for area governments, some public officials say they are hopeful home values will not go down much, if at all. About half the 12-hundred workers at the Mitsubishi plant live in Bloomington Normal. McLean County Board Chair Matt Sorenson says analysis suggests many will remain in town.
Some are moving out of central Illinois for new jobs. And experts suggest sales tax receipts will be affected as the former workers change spending habits to reflect new income levels. The company pays about 600,000 dollars a year in property taxes on the plant itself. Schools get most of that. And a new assessment is already being contested.