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Understanding Your Taxes
Property Tax
- This local tax is distributed to nine different taxing
bodies (see below). The assessed value of local property is
taxed at a rate of $7.3241 per $100 Equalized Assessed Valuation (EAV). This rate corresponds with the 2006 tax year
for taxes paid in 2007.
| Taxing Body
|
Tax Rate |
Percent of
Total |
| Town of Normal |
0.7581 |
10.4% |
| Normal Library |
0.3292 |
4.5% |
| McLean County |
0.9193 |
12.6% |
| Township |
0.1183 |
1.6% |
| Road & Bridge |
0.0759 |
1.0% |
| Water Reclamation District |
0.1530 |
2.0% |
| Airport Authority |
0.1162 |
1.6% |
| Unit 5 School District |
4.4476 |
60.7% |
| Community College |
0.4066 |
5.6% |
| Total
|
7.3241
|
100.0% |
- In Illinois property is assessed at 1/3 its fair market
value.
- If you own a home worth $180,000, then your assessed
value will be approximately $60,000 ($60,000 = $180,000
/ 3).
- Your property tax bill would be approximately $4,394
($4,394 = $60,000/100 * $7.3241).
- The $4,394 tax bill is then split between the nine
local taxing bodies at the percentages listed above.
Based on these percentages the Town of Normal only
receives $457 of this tax bill ($457 = $4,394 * 10.4%).
- Property Tax Exemptions - For information regarding
exemptions from property taxes, visit the
Normal Township
website.
Income Tax
- The State of Illinois collects a 3% flat tax residents’
income.
- One eleventh of the total state income tax received
is distributed to Illinois municipalities based on population.
- For more information on Illinois income tax, see the
Illinois Department
of Revenue website
- The Federal Government charges an income tax to United State
Citizens. Tax rates vary based on income levels.
- To find your federal tax rate / bracket, search look
to the IRS website:
Sales Tax
- The State of Illinois collects a sales tax at a rate of
7.5%, which is distributed as follows:
- 5% to the State of Illinois
- 0.25% to McLean County
- 1.25% to the Town of Normal (excludes grocery items
and vehicles)
- 1.00% to the Town of Normal
- The 2.25% received by the Town of Normal is used primarily
for support of General Fund operations with a small percentage
being used to support the Uptown Renewal Program.
Use Tax
- The Town of Normal collects a .5% tax on titled items sold
to residents. Examples of titled items include automobiles,
motorcycles and boats. The tax supports General Fund operations.
Hotel / Motel Tax
- The Town of Normal collects a 6% tax on hotel and motel
room rental. 2% of the tax is distributed to the Bloomington-Normal
Area Convention and Visitors Bureau, while the remaining 4%
is used to support the Uptown Renewal
Program.
Food & Beverage Tax
- A local 2% tax is issued on the sale of all food, alcoholic
and non-alcoholic beverages which are prepared for immediate
consumption and which may be consumed on and /or off the premise.
The tax supports General Fund operations.
Liquor Tax
- 4% tax rate collected by the Town of Normal on all packaged
liquor sales. A portion of this tax supports specific Police
operations.
Utility Tax
- 5% tax rate collected by the Town of Normal on electricity,
cable, telephone and gas service.
- The utility tax is one of the Town’s largest revenue sources
and is used to finance General Funded operations.
Motor Fuel Tax
- This tax is collected by the State of Illinois and used
to finance street improvement projects throughout the State.
- The State of Illinois distributes the revenues from this
tax to municipalities based on population.
This page last modified
05/05/08.
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