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Peoria holds truth-in-taxation hearing after 6.56% increase in levy amount
Summary
The Peoria City Council opened and closed a statutorily required truth-in-taxation hearing Oct. 21 after the city's 2025 property tax levy collectible in 2026 rose by 6.56% versus the prior year; council took no public comments and will consider levy ordinances as part of the upcoming budget ordinance package.
Peoria Mayor Ali called a special City Council meeting Oct. 21 to hold a truth-in-taxation hearing after the city's finance director said the 2025 property tax levy collectible in 2026 is estimated at $34,418,810, a 6.56% increase from the 2024 levy collectible in 2025.
Finance Director Cratty told the council that "a truth in taxation hearing is required when the aggregate increase of the tax levy is more than 5% of the previous year's extended levy." Cratty said the published notice ran in the Journal Star on Oct. 9 and that levy amounts for bonds are removed for the truth-in-taxation calculation. He added that the 6.56% figure reflects anticipated equalized assessed value (EAV) growth across the city and that the levy rate, expressed as 1.3483, would remain flat because of that growth.
Council Member Cyr moved and Council Member Allen seconded a motion to open the public hearing; the motion passed unanimously. No members of the public addressed the council during the hearing, and Council Member Kelly moved, seconded by Council Member Euler, to close the hearing; that motion also passed unanimously.
City Manager said the final property tax levy ordinance and other budget ordinances will be returned to council as part of the packet the council will consider next week as the budget is finalized.
