Since the City Council is concerned about increasing property taxes too high, there was no desire to increase property taxes to cover pension obligations. The City established the Public Safety Pension Fee to meet the pension obligations. The fee is based upon the size of the structure on a property.
The Public Safety Pension Fee is a new fee started in 2019 to be used entirely to fund state-obligated police and fire pension payments and reduce the burden on the city of Peoria's property taxes. The new Public Safety Pension Fee has been enacted for three years (2019 to 2021).