HomeMy WebLinkAboutLOST Report.pptCITY OF IOWA CITY
LOCAL OPTION
SALES TAX
City Council Work Session
June 30, 2014 ; ::
OTHER SIGNIFICANT REVENUES
Gambling casino revenues — Souix City, Davenport, Council Bluffs,
Waterloo, Dubuque
Electric utility revenues —Ames
FY 2015
property valuation $ 3,135,198,128 $ 3,135,198,128
mated LOST Revenue $ 9,000,000 $ 12,000,000
60% 60'
ount for Property Tax relief $ 5,400,000 $ 7,200,000
eduction in rate
,ssessed Value
axable Percentage
axable Value
roperty tax savings
axable sales equivalent
axable sales per moth
axable sales per week
$ 1.7224 $ 2.2965
$ 100,000 $ 100,000
54.40% 54.40%
$ 54,400 $ 54,400
$ 93.70 $ 124.93
$ 9,370 $ 12,493
$ 781 $ 1,041
$ 180 $ 240
Code
7
least $40,000 but less than $50,000
City, County, Percentage of State Tax Local Tax
State Tax Local Tax Year at
State Amount Amount
Residence
IOWA CITY, 6.00% 1.00% 100.00% $644.00 $106.46
JOHNSON, IA
Total Tax
$750.46
$750.46