Here are the main reasons why property taxes are so high in Jasper County Illinois.
1. Shrinking tax base. From 2008 to 2018 the Equalized Assessed Value (EAV) in Jasper went down by 29.5 million
dollars or -13.44% which if you indexed for inflation would be more like -30% which is a staggering number considering
that is actually 1/3 of the cash value of the property. This is more than the EAV of all the property in Newton.
The primary reason for the loss of EAV is the fact that the power plant value has been reduced by 75% in this
2. Rising tax levies. At the same time Jasper's EAV was taking a beating taxing bodies kept right on increasing
spending like nothing had happened, for Instance the City of Newton levy is up 56%, Jasper County levy increased by
27% in the same period, well above the 19% increase in the Consumer Price Index for the same period. If Jasper would
of had PTELL since 2008 the total levy increases would of been limited to 18.2%.
3, Declining population. The highest population in Jasper county was 20,160 in 1900 and has been in steady decline
ever since to 9,698 in 2010. At the same time population is declining many units of local government are trying to expand
in some form or another.
4. TIF district . Around $300,000.00 per year is diverted into the TIF fund to be given out by the Newton city council
to their favorite recipients and not used to satisfy any tax levy,this has to be made up by all property tax payers in the
form of higher rates.
The combination of these reasons have resulted in the explosion in property tax costs that we have seen.