PEORIA, Ill. — All property owners will receive another bill in October. The city needs $1.2 million by the end of the year to fund police and firefighter pensions.
Peoria city manager Patrick Urich said those pensions are the fastest-growing expenditure in the city budget, growing at 11% each year. To raise the money needed, city leaders implemented a public safety pension fee in the 2019 revised budget.
Council leaders said they don’t want to increase property taxes, so they plan to utilize this fee to cover the costs of pension contributions.
The cost of pensions is a constitutionally guareenteed benefit as determined by the Illinois supreme court. We cannot diminish these, we can’t change the benefit levels, all we can do is raise the funds locally to meet those obligationsPatrick Urich, Peoria City Council
The pension fee is authorized for the next three years. Next week, the city council is voting on a plan to open a call center for all neighbors who have questions or concerns.
Urich said the call center is expected to cost about $90,000 and to open within the next few weeks.
The amount of money you will be billed is based on the size of your property. Click the PDF below to find out how much you’ll have to pay this year and for the next two years.