PEORIA, Ill. – Peoria County has approved a $155 million budget for the next fiscal year that is about 2.6% higher than fiscal year 2023. But, the new budget does not raise property taxes.
The Peoria County Board on Thursday night unanimously adopted the budget for the fiscal year 2024 that begins January 1.
County officials say the tax rate will stay at 82.41 cents per $100 of assessed value. However, the county expects to collect 6.7% more in property taxes next year due to an increase in taxable land values.
Peoria County is also seeing significant growth in interest income, according to a statement from County Administrator Scott Sorrel last month.
In a statement released Thursday night after the board’s budget vote, Peoria County Board Chair James Dillon said elected officials are making capital improvements a top priority in the county’s strategic plan.
Projects in the new budget include continued construction of the Health and Human Services building, multiple road and bridge rehabilitations, Highway Department facility upgrades, as well as Courthouse fountain and step repairs.
“This budget reflects our commitment to that priority with heavy investments in roads and bridges, building improvements, and upgraded vehicles for the Sheriff’s Office, Highway Department, and Animal Protection Services (PCAPS),” Dillon said.
“This budget does not raise property taxes, fully funds our pension obligations, and invests in the maintenance and repair of our facilities so we can continue to offer quality services to the public,” Dillon also said.
