The Normal Town government is poised to finalize its property tax levy for next year. The recommended levy is increasing $459,000. That's a 4.6% jump. Town staff say the portion of the $10.4 million total going to the general fund is unchanged for the ninth year in a row. What is increasing is the amount mandated to go to pensions and social security. The town is estimating that property tax values in the city will drop by about a percent next year. So to get the money needed to operate the tax RATE has to go up. The estimated rate increase would cost the owner of a $150,000 house an extra 30 bucks a year. If council members reduce the amount of the levy tonight, Town staff say they would have to cut next year's budget significantly. The town's portion of the total property tax bill for homeowners in Normal is less than 10%. Unit Five Schools take the biggest chunk of property taxes, about 60% of the total bill.
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