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Maximum Levy Hearing Notice 20222/3/2022 Local Government Property Valuation System https://dom-localgov.iowa.gov/budget-renderer?id=10724 1/2 NOTICE OF PUBLIC HEARING - CITY OF IOWA CITY - PROPOSED PROPERTY TAX LEVY Fiscal Year July 1, 2022 - June 30, 2023 The City Council will conduct a public hearing on the proposed Fiscal Year City property tax levy as follows: Meeting Date: 2/15/2022 Meeting Time: 06:00 PM Meeting Location: 28 S. Linn St, The Center At the public hearing any resident or taxpayer may present objections to, or arguments in favor of the proposed tax levy. After adoption of the proposed tax levy, the CityCouncil will publish notice and hold a hearing on the proposed city budget. City Website (if available)icgov.org City Telephone Number(319) 356-5050 Current Year CertifiedProperty Tax 2021 - 2022 Budget Year EffectiveProperty Tax 2022 - 2023 Budget Year Proposed MaximumProperty Tax 2022 - 2023 Annual% CHG Regular Taxable Valuation 4,261,347,436 4,241,061,964 4,241,061,964 Tax Levies: Regular General 34,516,914 34,516,914 34,352,601 Contract for Use of Bridge 0 Opr & Maint Publicly Owned Transit 4,048,280 4,048,280 4,029,009 Rent, Ins. Maint. Of Non-Owned Civ. Ctr.0 Opr & Maint of City-Owned Civic Center 0 Planning a Sanitary Disposal Project 0 Liability, Property & Self-Insurance Costs 1,237,665 1,237,665 1,231,774 Support of Local Emer. Mgmt. Commission 0 Emergency 1,022,723 1,022,723 848,212 Police & Fire Retirement 3,998,012 3,998,012 3,978,964 FICA & IPERS 3,882,572 3,882,572 3,864,074 Other Employee Benefits 6,370,015 6,370,015 6,339,709 Total Tax Levy 55,076,181 55,076,181 54,644,343 -0.78 Tax Rate 12.92459 12.98641 12.88459 Explanation of significant increases in the budget: Property Tax askings for fiscal year 2023 are 0.78% lower than those of fiscal year 2022. The average wage increase was .5% and City property and liability insurancecosts increased by 35.3%. 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 requested is not changed in the coming budget year 2/3/2022 Local Government Property Valuation System https://dom-localgov.iowa.gov/budget-renderer?id=10724 2/2