Bloomington residents may not see a property tax increase next year. The City Council unanimously voted against a staff recommended property tax rate increase. That means the city will likely have to absorb a shortfall about around $400,000, according to City Finance Director Patti Lynn Silva. Alderman David Sage says other municipalities have seen a decrease in property taxes because of lower values, and they raise their tax rate to make up for the loss.
"Maybe we want to be the exception, instead of the rule it terms of a taxing body that, that's trying to be as, you know, as sensitive and accommodating to the taxpayers."
Sage says the constituents in his ward say they cannot afford another property tax increase. Mayor Steve Stockton says future councils won't have the luxury of avoiding tax increases with rising pension costs and other expenses going up.
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