East Peoria residents likely to pay less property taxes next year

By WEEK Producer

East Peoria residents likely to pay less property taxes next year

December 4, 2012 Updated Dec 5, 2012 at 10:50 AM CDT

EAST PEORIA, Ill -- It seems East Peoria residents will likely pay slightly less for their 2013 city property taxes than this year.

Tuesday night, the council discussed a levy option that would keep the tax rate approximately the same. Due to decreased evaluations, the average homeowner would pay slightly less.

That means a homeowner with a home valued at $150,000 would pay about $12 less for the city portion of their tax bill. It would also mean the city would collect about $88,000 less than this year.

Two commissioners opposed this saying, they hope with the downtown development they will soon be able to rely on more sales tax, but that time has not yet come.

"Because of that development, which is a very good development, your tax dollars are going to decrease over time, the amount you pay. But this year, I think it would be best if we just accepted the same amount of dollars as we collected last year and it would provide us maybe 4 or 5 more streets to be able to repair next year," said Commissioner Daniel Decker

This was the first reading of the motion. A final reading and vote will occur at the December 18 meeting.

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