HomeMy WebLinkAboutFY2021 Maximum Levy Hearing NoticeNOTICE OF PUBLIC HEARING - CITY OF IOWA CITY - PROPOSED PROPERTY TAX LEVYFiscal Year July 1, 2021 - June 30, 2022The City Council will conduct a public hearing on the proposed Fiscal Year City property tax levy as follows:Meeting Date:2/16/2021 Meeting Time:07:00 PM Meeting Location:410 E. Washington Street, City HallAt the public hearing any resident or taxpayer may present objections to, or arguments in favor of the proposed tax levy. After adoption of theproposed tax levy, 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 CertifiedProperty Tax 2020-2021 Budget Year EffectiveProperty Tax 2021-2022 Budget Year Proposed MaximumProperty 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 requestedis not changed in the coming budget year
If City Hall remains closed to the public, the meeting will be an electronic meeting using the Zoom Meetings Platform. For information on how to participate in the electronic meeting, see www.icgov.org/councildocs or telephone the City Clerk at 319/356-5043.