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Finance director: Normal's assessed value surged but water fund and contingency levels warrant caution
Summary
The town's financial trend report shows a sharp increase in assessed value and generally healthy reserves, but staff warned of risks to the water capital and contingency reserves and flagged the need to revisit rate and capital assumptions during the 2026-27 budget process.
Normal'At a Sept. 15 council meeting the Town of Normal's finance director presented the fiscal year 2024-25 financial trend and condition report, reporting strong assessed-value growth and healthy reserves while cautioning about the water fund and contingency reserves in the five-year outlook.
The report showed extraordinary assessed-value growth in the most recent tax year: a 17.1% increase that added more than $200 million to the town's Equalized Assessed Value (EAV). The director said the growth included substantial residential, commercial and industrial increases and noted that the shift toward more commercial and industrial value reduces the relative…
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