EAST PEORIA, Ill. — East Peoria City Commissioners have approved a series of new property tax levies to cover the cost of new road work as well as an expansion of the city water system.
City Commissioners voted Tuesday to approve a new annual property tax levy of $637 on residents of the Valley View Knolls subdivision off Centennial Drive, just south of the Illinois Central College East Peoria campus.
The neighborhood is being linked into the city water system and to cover the cost, city officials are issuing new bond debt and issuing the new tax levy.
The change impacts roughly 80 homes along Avondale Drive and Oakwood Road.
“Those residents were given the option to either pay that assessment up front or have that spread over ten years,” said Commissioner Mark Hill at Tuesday’s meeting.
According to city council documents, about 60 of those homeowners opted for the 10 year payout in the new tax levy.
City commissioners also approved a separate property tax levy on several businesses operating around North Main Street and Centennial Drive.
It’s related to a roughly $400,000 project aimed at improving one of the access roads which feeds vehicle traffic to those businesses from North Main Street.
