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Data from the Illinois State Board of Education (ISBE) show Unit 5 tax rates are lower than average among peer districts in total property tax rate. That also would be true if rates that would go into effect after a successful referendum are compared to the most current data available statewide.
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District 87 is keeping its property tax rate nearly flat. The school board has approved a $48.5 million levy that projects significant growth in taxable land values.
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Unit 5 Finance Director Marty Hickman noted the district set the levy, assuming an 8% growth in equalized assessed valuation. But leaders expect an actual 6% EAV increase.
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The Bloomington City Council on Monday increased its combined property tax levies to about $28.6 million, an estimated 7% increase over last year’s figure.
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Heartland Community College's Board of Trustees will consider a $30.1 million property tax levy on Tuesday. The district expects a big increase in equalized assessed valuation (EAV).
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Bloomington has proposed a $22 million property tax levy — about 6.5% higher than last year. The proposed levy for the Bloomington Public Library would increase by 7%.
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The 2022 Normal property tax levy will be the same as last year’s — nearly $13.4 million dollars, after the town council adopted it Monday night. Also at the meeting, the council rebuked member Stan Nord for an email he sent to town staff.
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Higher property values are expected to allow the city to rake in more money without raising the tax rate, say officials.
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Unit 5 has proposed a nearly $139 million-dollar property tax levy — about 5% more than last year’s proposal, while the tax rate is projected to decrease more than 10 cents.
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Adopting a $127 million budget for McLean County government proved to be one of the final acts in office for more than one-third of the McLean County Board.