PEORIA, Ill. – Peoria Public Schools officials are somewhat optimistic about one of their sources of revenue.
The district’s Budget Director, Carla Eman, says after a number of years of declining property values, that may be coming to an end.
“Now, it has seemed to level off,” said Eman. “We’re hoping it’s going to kind of go back the other way now. But, we are estimating a level [Equalized Assessed Value] right now.”
The PPS board has yet to approve the proposal, but the district is planning on asking for roughly $73.6 million next year in local property taxes, but is anticipating actually receiving a little less.
“The difference then (between the 2022 request and what was received in 2021) is only a .48 percent increase, so very similar to last year,” said Eman.
Eman says that’s because the district doesn’t need as much money for contributions to the Illinois Municipal Retirement Fund — or, teachers pensions.
Local property tax dollars make up about 21 percent of the district’s revenues.
Peoria Public Schools via YouTube
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