Homeowners will see a spike in their property taxes, if the Peoria School District 150 board approves a tax levy next week.
The board approved several measures during a special meeting Monday night in preparation for Senate Bill 318. The bill would freeze how much how much school districts and other governing bodies can levy for two years.
The bulk of District 150’s local revenue relies on the real estate market. Interim Chief Financial Officer Erik Bush says with the anticipated growth of the housing market, the tax levy is linked to increasing property values.