IC City Council passes 2020 FY budget
Hunter
3/13/19
The property tax levy rate is lower, but Iowa Citians probably won’t see a decrease in their tax bill because valuations continue to rise.
That’s part of the 2020 fiscal year budget that the City Council passed unanimously Tuesday night.
Tax levy rate per $1000 of valuation is down from $16.183 to $15.83 per $1000.
Although the budget passed unanimously, councilor Susan Mims reiterated her frustration with the decision to fully fund Aid to Agency grant applicants, a request that came relatively late in the budgeting process. She says the one-time jump in funding from $251,500 to $625,500 didn’t seem responsible.
A handful of adjustments and amendments to the budget were added after it dropped in December, including a transfer to the Affordable Housing fund to a total of $1 million.
In total, the budget includes expenditures of nearly $166.8 million
The council also voted unanimously, with Mazahir Salih absent, on resolutions to approve the three-year Financial Plan and the five-year Capital Improvement plan.
