The property tax levy for the Heartland Community College district will likely go up 12.6% next year. That's only slightly more than the expected increase in property values for the district.
If trustees approve the nearly $34 million proposed levy Tuesday, the tax rate should fall a minimal amount next year. Documents prepared for the board meeting show a $3.8 million increase in total property taxes next year.
Home values have risen the last couple years, but the college says if assessed values stay steady, the annual bill for the college portion of property taxes would drop a minimal amount, about a dollar for the owner of a home worth $165,000.
There are two portions of the levy — the amount for general operations and special purposes, and the amount for debt service. The 2023 levy for debt service would be nearly unchanged from the amount in 2022. The 2023 corporate and special purpose levy would rise by more than 20%.
The 2022 property taxes for Heartland Community College were about 3.7% of the total paid by Bloomington-Normal residents.
McLean County, the Town of Normal, and the Unit 5 school district have all adopted levies that would produce slightly lower tax rates next year. Based on an estimated 10.7% increase in assessed value in the City of Bloomington property tax rate is also expected to fall slightly. The Bloomington City Council will vote on a levy ordinance on Dec. 11.
