Those of you who read the JS today learned that Peoria Public School District #150 is going to raise property taxes a "small" amount. These "small" amounts will eventually make Peoria one of the highest taxed cities in the country. I have predicted this outcome for several years. It takes no genius to make that prediction, all you have to do is follow the spending and revenues. Look at your real estate bill and it will show that over 52% of your ENTIRE property tax assessment goes to #150. And the NEW BUILDINGS AND EXPANSIONS #150 school bond tax hasn't kicked in as yet. The "small" (only $17 dollars per person in Peoria County) 1/4% sales tax kicked in January and will take $3-4 million out of our local economy for the next 20 YEARS, a total of $72-80 million.
Here is an email sent me by a friend on a topic that has been debated fiercely by Congress recently. I do not know that the $1500 figure is an exact amount; I do know that most family earners will pay more in taxes, fees and assessments every year of their lives if our governmental bodies can't sort out priority spending from special interest spending:
Either Obama agrees to extend the Bush-era tax cuts or every body's taxes are going to revert to pre-2001 levels. This will mean that a family of four making $50,000 will see their Federal income taxes rise by more than $1500 a year. If you make more, you will pay even more. And sense every local and state taxing body is looking for further “revenue enhancements”,ie. more taxes, fees and multipliers(Quinn promised to raise taxes this year and yet still he got voted in!), we are going to have even less of our own money to spend. Elections have consequences. Many of us lack the foresight to see the unintended ones.