Local sales tax, state-shared sales tax revenues growing slowly

The city of Peoria is forecasting a conservative fiscal year 2027 budget, with local sales tax and state-shared sales tax revenues growing substantially slower than in past years.

Budget officials also say the city will need to replenish its half-cent sales tax fund that has been depleted due to economic development projects in the northern part of the city.

Deputy Finance Director Peter Christensen said the city is preparing for the upcoming budget as city departments put in their budget requests for the coming year.

City council will consider the final fiscal year 2027 budget in May or June.

Christensen said it appears the city is “entering a different era of low growth stability, where we continue to have growth, but i

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