Peru tax rate projected to decrease

Peru approved its tentative tax levy Monday, projecting the tax rate to decrease, along with generating an additional $44,112 than last year.

Peru Finance Officer Tracy Mitchell said Peru’s tax levy is requested for police and fire pensions only. The city is requesting $944,361 this year. It requested $900,249 last year and received $876,464.

Mitchell said based on the recent estimated assessed values received from La Salle County, Peru’s tax rate would, in turn, decrease by .0117 from .3249 in 2022 to an estimated .3132 for 2023.

“Someone with a home value of $100,000 would have paid $88.80 to the city’s pensions related to their 2022 tax bill and it is estimated that they will only pay $85.60 in 2023,” she said.

The city will not need to host a truth-in-taxation hearing because the city’s request is below 5%.