BLOOMINGTON, Ill. (WMBD) — If you live in District 87 in Bloomington, you probably won’t be paying more in taxes next year.
Wednesday night the school board approved the 2020 property tax levy. Leaders say they’re projecting the equalized assessed value (EAV) to raise by 3%.
If they’re right, you will not see a change on your bill, provided the value of your property stayed the same.
“Assuming we see a 3% overall growth in the area, you will see no increase in taxes,” said Colin Manahan, Chief Financial Officer for District 87. “Lets say they (EAV projections) go down, an example would be if they go from 3% to 2% that’s going to drive our tax rate potentially up a bit. We don’t know where the EAV growth is going to end up, we won’t know that until March.”
Manahan says he believes the 3% projection will be accurate. It should be noted last year, District 87 had the lowest tax rate out of all of McLean County school districts.
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