Falling property taxes mixed news for Bloomington, Monore County officials

By Bethany Nolan, Sarah Morin and Mercedes Rodriguez, Herald-Times Staff Writers

A law that created sweeping property tax reform means fewer property tax dollars out of residents' pockets, but also means fewer property tax dollars for all those entities that operate on those twice-a-year "paychecks."

State officials have said Monroe County property owners will see an average 27 percent cut in their property tax bills because of the recent reform. Local numbers are on par with projected state figures that show Hoosiers will receive, on average, a 30 percent cut on their property tax bills.

But how will those cuts affect budgets for local schools? What about county and city governments? The bottom line is, nobody knows yet.