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.. , � <br /> ` ' , , <br /> Real Estate Tax Increases: <br /> Over the past ten years the increase in assessed valuation within the City of <br /> Decatur has increased with the rate of inflation. Throughout the State of Illinois, <br /> assessed valuations on real roperiy have increased steadily especially in the last <br /> P <br /> five years as residential real estate values have jumped at a very rapid rate. <br /> However, regardless of these increases, the cost for each taxing district to function <br /> properly has risen substantially as the tax rates for at least some of the districts are <br /> continuing to rise. Increases in assessed valuation on current buildings in addition <br /> to new construction are necessary to insure that services are continued without <br /> increasing tax rates and tax burdens on individual taxpayers and homeowners. <br /> Below is a chart depicting the increases in assessed valuation within the City <br /> of Decatur, in add.ition to the increases in the lump rate for the City during that same <br /> time period. <br /> Tax Year Assessed Valuation Tax Rate <br /> 1986 436,98�,772 7.1074 <br /> 1987 440,337,429 7.05�5 <br /> 1988 450,37�,986 8.0754 <br /> 1989 445,139,682 8.1636 <br /> 1990 457,226,986 8.2681 <br /> 1991 468,337,329 8.2358 <br /> 1992 487,976,475 8.1350 <br /> 1993 506,462,107 8.4123 <br /> 1994 528,096,882 8.2620 <br /> 1995 540,398,370 8.2232 <br /> Projected increases in assessed valuation associated with this project alone <br /> equal almost $7,000,000 or one and one-half percent of the total assessed valuation <br /> of the City of Decatur. By itself, this would make the Southeast Plaza Development <br /> the fourth largest property taxpayer within the City of Decatur behi.nd ADM, <br /> Caterpiller, and Staley Manufacturiilg. The following is a chart of the Major <br /> Property Taxpayers in tax year 1995, payable 1996. <br /> 10 <br />