Peoria city council members receive request to raise taxes

News

PEORIA, Ill. — Tuesday Peoria city council members formally received and filed a request from the police and fire pension boards.

The boards are hoping to bring in an additional $4 million to pension funds on top of what the city legally has to contribute.

Police and fire pension board members are asking for a tax increase of a combined $0.19 for every $100 of estimated property value.

If the council approves additional contributions, there are two options available to city leaders, either raise taxes or cut $4 million from the proposed budget.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.