The City of Peoria faces significant challenges with operational expenses growing at four-to-eight percent. That’s coupled with no corresponding growth in revenues, which remain stagnant. Council members are meeting over a two-day period to determine the strategic direction for the city under those financial constraints. Mayor Jim Ardis says he believes that will not include any tax increases.
“With all the uncertainties at the state level, I don’t think the council’s going to look for any revenue streams. That’s going to mean tightening the belt, getting as much efficiency as we can out of the current operations and just trying to hold the line on expenses.” -Mayor Jim Ardis
Tax revenues are flat for the city with the exception of the hotel-restaurant-and-amusement tax. The city imposed increases a year ago on several sources of revenue, including the property tax and the motor fuel tax.
There is some positive news on the tax front. The Louisville Sports Complex is hosting 300 youth baseball teams this weekend, which will generate sales taxes on expenditures by those visitors.