The East Peoria City Council unanimously locked in an unchanged property tax levy for 2025.
The ordinance passed its second reading at Tuesday night’s regular city council meeting, the last meeting of 2024. Council members tout the decision as a tax reduction, citing a rise in assessed property values.
“What that really ends up meaning is, as assessed values have went up, as new properties that are coming on to our tax roll, it’s going to effectively lower the tax rate that the city is applying,” said Commissioner Dan Decker.
The figure continuing into 2025 is $5.9 million in city property tax collection. Decker provided some examples of where this money goes.
“That $5.9 (million) doesn’t go very far in the total scheme of expenses of the city,” he said. “Almost $2 million – 1.966 – goes to the fire pension. And $2.089 (million) goes to the police pension.”
An additional $650,000, Decker says, is split between the municipal pension and Social Security contributions.
The majority of East Peoria’s city services, like garbage collection and emergency service salaries, are paid through alternative revenue streams. Decker gives the examples of sales tax and gaming revenues.
“So with that tonight, gladly hold up that we’re holding on our tax levy amount, and thereby our tax rate will be lowered,” he said.
The council also unanimously approved the second reading of another ordinance: setting the maximum cost of the construction of a new police department headquarters at $21.6 million dollars. The figure comes from a contract with River City Construction.
“The state-of-the-art police station will not only enhance our operational efficiencies within the department, but will also foster a stronger connection within the community,” Police Chief David Catton said in a media release.
The city breaks ground on the new station with a ceremony this Friday.
