Peoria Progress, a local magazine indicates that 16,683 workers were unemployed in the area as of May, 2010. Those are people of counted by some type of recordings. Unreported are the thousands who are no longer recorded because they are no longer drawing benefits. Many have stopped looking for jobs as the job market is very slow and limited to specialty trained workers.
Average unemployment in the Peoria area for 2009 was 10.1%, not counting those who have stopped looking or have fallen of the record keeping system. One reason housing prices are considered low in Peoria. Home owners should look closely at their property tax bills as many may be paying as public bodies struggle for ways to raise more revenue.
Like higher fines and more stringent enforcement of laws such as speeding despite accidents are occurring less frequently meaning less lives lost in motor vehicle accidents.
Housing sales figures show a slowdown through May. Many homes originally on the market have been removed by the owners because of a lack of buyers. Expect property taxes to show sizable jumps in upcoming years as new non-profit bond supported projects start coming due such as School District #150 new $70 some million. Area schools already collect 61% of all property taxes. (Peoria County collected $25,360,460 last year, all cities, villages and incorporated villages collected $36,516,965 and the Peoria Park District collected a growing $14,954,512 last year).
While the magazine praised the growth in this area, close reading will indicate that most of this growth will not pay taxes. (Massive non-profit OSF only pays $1.1 million in property taxes) such as libraries, park districts, County and City, museums, etc. Plus some of the new businesses opening will take considerable business away from older local businesses such as hotels, grocery stores, restaurants. Yet, some of these projects that are partially funded by taxpayer dollars help take business away from non-taxpayer supported established firms.
Prime upcoming examples are the taxpayer funded East Peoria Bass Pro and the Marriott Hotel.
Peoria Progress paints a rosy picture and much of it is good growth. The magazine does not mention the darker side of Peoria so often pointed out in the Journal Star. Never the less, there is plenty to worry about in the lack of funds for greater growth in both the private and public sector. The magazine does not mention the sorry state of funding for the PRM, District #150 shortcomings and crime.
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