PEORIA COUNTY, Ill. (WMBD) — Peoria County property owners will have to cough up a little more cash after the board of commissioners voted to adopt the annual tax levy Thursday.
The property tax rate will remain flat at 82.41 cents per one hundred dollars of equalized assessed value. But due to expected growth in the county, if you own a $150,000 house in Peoria County, you’d pay an extra $16.48 next year.
“The property tax revenue in the general fund will be decreased by the dollar equivalent of 8th tenth of a penny of the tax rate. That’s approximately $305,000. By doing that, you then have an unbalanced general fund budget,” Peoria County Administrator Scott Sorrel said.
Peoria County Administrator Scott Sorrel said because of that amendment, they will make up for that deficit by using reserves from the general fund. He said the general fund is in an adequate place to do that.
Tonight, they also extended the declaration of emergency due to COVID-19 in Peoria County.
Watch the full meeting here.