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How Will Proposed Annexation Affect Monroe Co. Property Taxes? County Unveils New Tax Calculator

Bloomington's proposal to annex 9,200 acres of Monroe County into city limits will take major steps forward in the coming weeks, which is why the county council met Tuesday night to discuss the fiscal impact. 

County councilmember Geoff McKim said Monroe County's general fund will take somewhere around a $1.8 million dip in annual revenue.

"When you look at the big picture, if the annexation fully goes through, it will create about a 3.6 percent hit on our general fund."

Another key concern from residents who could become part of the city is about possible tax increases.

Deen Rogers from Baker Tilly Municipal Advisors said the county's website will be equipped with a new property tax increase calculator for residents to use on their own. 

"It gives a summary of the dollar increase and the percentage increase from annexation, and again, this is really just based on information that we know today," said Rogers. 

Rogers said this new calculation tool goes live on Wednesday, and is more accurate than the one the city has because it uses 2020 assessed property values instead of 2019 values.

DOWNLOAD: Baker Tilly's full annexation fiscal report

"We wanted to give a more fresh look based off of taxes payable in 2021," said Rogers. 

Residents can type in their address and what township they live in. Then, the calculator will compute a number. 

In previous "Ask The Mayor" interviews, Bloomington Mayor John Hamilton said the average person will see a $600 annual increase in their taxes.  

READ MORE: Bloomington's Annexation Proposal A Hard Sell For Some Non-City Residents

County councilmember Trent Deckard said because annexation is a long, drawn out process over multiple years, the expected tax increases should only be used as a reference point.

"This an estimate. That’s not gospel as they say," said Deckard. "That could be all over the place, but we’re doing our best to give people an idea of what they could pay." 

The county has scheduled three upcoming events on annexation where residents can come and ask questions in-person before the Bloomington City Council's public hearing on August 4. 

READ MORE: How To Attend Bloomington's Public Hearing On Monroe County Annexation

The first is Wednesday at 6 p.m. at the Bloomington Township Fire station on Old State Road 37 North.

Another is scheduled Sunday at the Monroe County Fairgrounds at 2 p.m., followed by the third meeting next Monday at 6 p.m. at the Perry Clear Creek Fire station on South Kennedy Drive.

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