K-12 Schools

Joel Schmieg, Superintendent at Elmwood Community Unit School District 322 | Elmwood Community Unit School District 322

School districts across Peoria County held a combined $228 million in long-term outstanding debt as of fiscal year 2024, amounting to 42% of the area’s total allowable borrowing capacity, according to the Illinois State Board of Education .

Under Illinois law, districts may only borrow up to a certain limit based on their Equalized Assessed Value (EAV)—a standardized measure of taxable property used to determine legal debt caps.

Based on the school district's enrollment of 26,674 students, the countywide debt translates to approximately $8,547 per student as of fiscal year 2024.

The county includes 17 school districts, of which Peoria School District 1

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