On the agenda for Tuesday’s City Council meeting is this item under Town business:
RECOMMENDATION: Approve the Proposed Estimated Tax Levy of $2,179,219 with an estimated tax rate of .13663 for the Town of the City of Peoria and enter this action into the permanent record.
The item goes on to say that “the proposed estimated levy of $2,179,219, represents a 2.5% increase in the aggregate levy over last year’s tax extension.” Translation: taxes are going up. The tax rate itself may not be going up due to increases in home values (EAV), but don’t let that fool you. When a government body levies more money than the year before, that’s a tax increase.