Property taxes will increase in Bloomington: City council approves tax levy for library

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BLOOMINGTON, Ill. (WMBD) — Taxes will increase in the City of Bloomington after the council agreed to the increase by a vote of 6-3.

For property owners with a home assessed at $165,000, they will need to pay an extra $30 annually. The full breakdown can be found in the chart provided by the council below.

At the last meeting, Bloomington City Council pledged its support with a 7-2 vote on a $22.8 million project that expands and renovates the Bloomington Public Library building downtown.

To pay for this, the city plans on borrowing $17 million by selling bonds and paying back about $1 million of that annually over the next 20 years. But to do this, city leaders have to raise property taxes on Bloomington residents. 

During Monday’s meeting, much discussion was had about how the council was prioritizing the money spent. Ultimately, the library levy passed by a vote of 6-3 with Boelen, Becker, and Montney opposing.

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