Higher property taxes to come for Monroe County homeowners

NOTE: This Noon Edition interview with Chamber CEO Eric Spoonmore was published in the May 5, 2022 WFIU Noon Edition by Nathan Moore.

Listen to Interview Here

Noon Edition airs on Fridays at noon on WFIU.   

Monroe County homeowners should expect higher property taxes next year.

With the increase in home prices and construction of the new hospital, values of homes in Monroe County are rising. According to an article from The Herald Times, values for homes in Monroe County have risen 15% in the past year. With the construction of the new hospital, the county’s assessments have risen $1.9 billion, a record increase for a single year.
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Furthermore, homeowners who have improved their homes or who live in a highly desired area can see an even higher increase in home value. This rise in value also can raise the value of neighboring homes. On top of it all, concerns of continuing inflation may affect the housing market.

The increase in home value has been troubling for both current and new homeowners. Current homeowners with fixed incomes are worried how this will affect their future in Monroe County if property taxes continue to rise. New homeowners face similar struggles, as the stock of cheap housing in Monroe County is slowly disappearing.

We will talk about these issues with our guests this Friday on Noon Edition.  

You can follow us on Twitter at @NoonEdition or join us on the air by calling 812-855-0811 or toll-free at 1-877-285-9348. You can also send us questions for the show at [email protected].
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Guests
Judy Sharp, Monroe County Assessor
Eric Spoonmore, President and CEO of The Greater Bloomington Chamber of Commerce
Linda Kidwell, President of the Bloomington Board of Realtors, Broker/Owner of Camelot Realty Group, and a member of the Monroe County Apt Assoc. Board of Directors