HomeMy WebLinkAboutMaximum Levy Hearing Notice 2021NOTICE OF PUBLIC HEARING -CITY OF IOWA CITY -PROPOSED PROPERTY TAX LEVYFiscalYearJuly1,2021 -June 30,2022TheCityCouncilwillconductapublichearingontheproposedFiscalYear City property tax levy as follows:Meeting Date:2/16/2021 Meeting Time:07:00 PM Meeting Location:410 E.Washington Street,City HallAtthepublichearinganyresidentortaxpayermaypresentobjectionsto,or arguments in favor of the proposed tax levy.After adoption of theproposedtaxlevy,the City Council will publish notice and hold a hearing on the proposed city budget.City Website (if available)City Telephone Numbericgov.org (319)356-5050
Current Year Certified
Property Tax 2020-2021
Budget Year Effective
Property Tax 2021-2022
Budget Year Proposed Maximum
Property Tax 2021-2022
Annual
%CHG
Regular Taxable Valuation 4,172,675,883 4,261,347,436 4,261,347,436
Tax Levies:
Regular General 33,798,675 33,798,675 34,516,914
Contract for Use of Bridge 0 0 0
Opr &Maint.Publicly Owned Transit 3,964,042 3,964,042 4,048,280
Rent,Ins.Maint.Of Non-OwnedCiv.Ctr.0 0 0
Opr &Maint.of City-Owned CivicCenter 0 0 0
Planning a Sanitary Disposal Project 0 0 0
Liability,Property &Self-InsuranceCosts 1,211,912 1,211,912 1,237,665
Support of Local Emer.Mgmt.Commission 0 0 0
Emergency 1,001,442 1,001,442 1,022,723
Police &Fire Retirement 4,090,224 4,090,224 3,998,012
FICA &IPERS 4,079,124 4,079,124 3,882,572
Other Employee Benefits 5,784,76 5,784,706 6,370,015
Total Tax Levy 53,930,125 53,930,125 55,076,181 2.12
Tax Rate 12.92459 12.65565 12.92459
Explanation of significant increases in the budget:The significant increases in the budget were an average employee wage increase of 2.8%including an increase in the City’s minimum wage to$15.00 per hour and a 1%increase in the cost of insurance benefits and pension contributions.If applicable,the above notice also available online at:icgov.org
*Total city tax rate will also include voted general fund levy,debt service levy,and capital improvement reserve levy.**Budget year effective property tax rate is the rate that would be assessed for these levies if the dollars requestedisnotchangedinthecomingbudgetyear