This should help break it down:
In Illinois property is assessed at 1/3 its fair market value. For example, if you own a home worth $180,000:
Your assessed value will be approximately $60,000 ($60,000 = $180,000 / 3).
Your property tax bill would be approximately $5,022 ($5,022 = $60,000 / 100 x $8.3697).
The $5,022 tax bill is then split between the nine local taxing bodies. The taxing bodies are: The Town of Normal, Normal Library, McLean County, Township, Road & Bridge, Water Relcamation District, Airport Authority, Community College and Unit 5 School District. Unit 5 School District accounts for 5.0070 of the 8.3697.
Based on these percentages the Town of Normal only receives $537 of this tax bill ($537 = $5,022 x 10.7%).
I am happy to help with any further questions you may have! Happy House Hunting!
~ Amanda Wycoff, Realtor/Broker