City Tax Information

All divisions within Finance are under Finance Administration and the Finance Director/Comptroller, Kyle Cratty. Finance Administration is specifically responsible for general accounting, financial reporting, and payroll functions. Some activities of the Administration Division are:

  • Debt management (including issuance of bonds and debt service payments)
  • Banking services (including weekly wire transfers and investing)
  • Labor Management Healthcare Committee participation (including two representatives as voting committee members and financial information resource)
  • General accounting (including day-to-day financial transactions and various financial reports)
  • Audit (including coordination with external auditors, internal procedures, and external tax customers, etc)

The Finance Administration Division has been instrumental in being awarded the Certificate of Achievement for Excellence in Financial Reporting for over 10 consecutive years. Also, because of Finance Administration's debt management practices, the City holds an 'AA-/Stable' bond rating with Standard and Poor's Global Ratings and an 'A1/Negative Outlook' rating with Moody's Investor Services.

Audit Reports

All files in the Audit Reports Archive are PDFs. Some may be large and take a while to download. If you have any problems or questions please contact the Finance Department at 309-494-8553.

Annual Audit Reports Archive

Tax Rates Outside the Hospitality Zone

If business is not located in Hospitality Improvement Zone:

Tax Rate Schedule

Sales Tax (Combined General Merchandise) - 9.00%

Breakdown:

  • State of Illinois - 6.25%
  • City of Peoria, IL - 1.75%
  • County of Peoria, IL - 1%

Sales Tax (Food, Drugs, Medical Appliances) - 1.00%

Breakdown:

  • State of Illinois - 1%

Municipal Tax

Restaurant/Tavern Tax - 11.00%

Breakdown:

  • State of Illinois - 6.25%
  • City of Peoria, IL - 1.75%
  • County of Peoria, IL - 1.00%
  • City of Peoria, IL - 2.00% (remitted directly to City)

Amusement Tax (Admission Fee) - 3%

Breakdown:

  • City of Peoria, IL - 3.00% (remitted directly to City)

Hotel/Motel Tax - 14.00%

Breakdown:

  • State of Illinois - 6.00%
  • City of Peoria, IL - 8.00% (remitted directly to City)

Packaged Liquor Tax - 2.00%

Breakdown:

  • City of Peoria, IL - 2.00% (remitted directly to City)

Titled or Registered Items - 6.25%

Breakdown:

  • State of Illinois - 6.25%

Gas Use Tax - $0.0035 per therm

Breakdown:

  • City of Peoria, IL - $0.0035 per therm (remitted directly to the City)

Infrastructure Maintenance Fee - 1.00%

Breakdown:

  • City of Peoria, IL - 1.00%

Utility Tax - varies

Breakdown:

  • Electric (remitted directly to City) - 5.00%
  • Telephone - 5.00%
  • Water (remitted directly to City) - 5.00%
  • Natural Gas (remitted directly to City) - 3.75%

Motor Fuel Tax (Gasoline and liquefied petroleum [LP] Gas) - $0.637 per gallon and 9.00% per dollar

Breakdown:

  • State of Illinois - 6.25%
  • City of Peoria, IL - 1.75%
  • County of Peoria, IL - 1.00%
  • City of Peoria, IL MF - $0.05 per gallon (remitted directly to City)
  • State of Illinois MF - $0.392 per gallon
  • Federal - $0.184 cents per gallon
  • UST - $0.003 per gallon
  • EIF - $0.008 per gallon

Tax Rates Within the Hospitality Zone

If business is located in Hospitality Improvement Zone. Hospitality Improvement Zone Business Development District businesses - for a list of locations, go to the Tax Rate Finder.

Tax Rate Schedule

Sales Tax (Combined General Merchandise) - 10.00%

Breakdown:

  • State of Illinois - 6.25%
  • Hospitality Improvement Zone
    • Business Development District - 1.00%
    • City of Peoria, IL - 1.75%
    • County of Peoria, IL - 1.00%

Municipal Tax

Restaurant/Tavern Tax - 12.00%

Breakdown:

  • State of Illinois - 6.25%
  • Hospitality Improvement Zone
    • Business Development District - 1.00% (remitted directly to City)
    • City of Peoria, IL - 1.75%
    • County of Peoria, IL - 1.00%
    • City of Peoria, IL - 2.00% (remitted directly to City)

Hotel/Motel Tax - 15.00%

Breakdown:

  • State of Illinois - 6.00%
  • Hospitality Improvement Zone
    • Business Development District - 1.00% (remitted directly to City)
    • City of Peoria, IL - 8.00% (remitted directly to City)