PEORIA, Ill. — Local residents and businesses in Peoria County will face higher property tax bills, but not because local tax rates are going up, rather because the county will be spending significantly more money.
It’s one take away as the Peoria County Board approves its budget for the next fiscal year, which runs between January 1 and December 31, 2023.
As part of the approved budget, county officials note that increased property values would lead to higher dollar amounts on property tax bills next year, but millions in additional spending will create more upward pressure on tax bills as well.
In total, the new Peoria County budget will be around $151 million, roughly $23 million more than the FY2022 budget.
County officials tout the fact they voted to stay current with their Illinois Municipal pension fund obligations.
County officials also celebrate the appropriation of federal COVID relief funding to help build a new Health and Human Services building in the county.
Sheriff Chris Watkins says his FY2023 budget will come in at roughly $800K more than the prior fiscal year at a total of $19.7 million.
“The approved budget sends a strong signal to our residents that Peoria County remains fiscally sound, while still progressing forward with needed infrastructure improvements,” said Andrew A. Rand, Peoria County Board Chairman.
Click here to read full details on the original county budget proposal.
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