The Bloomington-Normal Water Reclamation District plans to increase its tax levy next year by just under 5%. The $5.9 million levy would be an increase of roughly $280,000.
According to documents prepared for a meeting of the district board, “the district determines the total amount of property tax revenue required to offset operating, capital and debt service expenses within the budget.”
The owner of a $250,000 home in Bloomington-Normal would pay a few cents less than the current year on BNWRD’s share of the total property tax amount.
The district bases the estimated tax rate on growth projections of about 5% in the total equalized assessed value [EAV] of the property within district borders. Last year, BNWRD projected 6% growth in assessments caused by new construction and a run-up in value of existing buildings and land.
The actual increase was more than 13% which allowed BNWRD to lower the tax rate. The final rate won’t be known until early next year. The 2024 levy will be funded by tax payments due in 2025.
The money raised in the levy “is being allocated toward capital projects such as the $38.7 million Southeast Wastewater Treatment Plant renovation and $8.4 million sanitary sewer lining of four major interceptors in Bloomington Normal,” said BNWRD executive director Tim Ervin.
An interceptor diverts stormwater to retention areas during peak flow periods and holds it for later treatment.
The reclamation district is a small portion of the total property tax bill at less than $1 per $100 of EAV. Schools are the largest consumers of local property tax dollars.
Unit 5’s tax rate for the current year, for instance, is $5.28 per $100 of equalized assessed value. District 87’s tax rate is currently $5.18 according to the district website.
