FY2022

FY2021

FY2022

Tax Rate

Tax Rate

LEVIES

Dollars

Dollars

per $1,000

per $1,000

General Fund Tax Levies: General

$33,473,409 $3,925,894 $1,200,249 $1,115,780

8.100 0.950 0.290 0.270 0.240 9.850 3.003

$34,188,090 $4,009,714 $1,225,875 $1,139,603 $1,012,980 $41,576,262

8.100 0.950 0.290 0.270 0.240 9.850 3.003

Transit

Tort Liability

Library

Emergency Subtotal:

$991,805

$40,707,137

Agland Levy

$4,278

$4,362

General Fund Property Taxes

$40,711,418

$41,580,623

Special Revenue Levies: Employee Benefits

$13,819,766 $13,819,766 $10,872,328 $65,403,512

3.344 3.344 2.578

$14,114,827 $14,114,827 $10,786,090 $66,481,540

3.344 3.344 2.478

Subtotal: Debt Service

Total City Levy Property Taxes:

15.773

15.673

% Change from prior year

1.92%

-2.16%

1.65%

-0.63%

SSMID Levy

$445,627

2.000

$430,096

2.000

Total Property Taxes

$65,849,139

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$66,911,636

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Despite the continued efforts to reduce Iowa City’s property tax rate, our community is still on the higher side of cities in Eastern Iowa. Iowa City’s higher rate reflects enhanced levels of public services (e.g. full-time fire department, senior center, human rights, transit and library levies, etc.), unique state or federal mandates (e.g. public safety pension contributions), and other factors, such as a significant number of University of Iowa affiliated tax-exempt properties within the jurisdiction.

FY2021 Municipal Property Tax Rates in Eastern Iowa North Liberty $11.03 Coralville $14.31 Cedar Rapids $15.65 Iowa City $15.77 Davenport $16.78

When compared to the ten largest cities in Iowa, Iowa City has moved from one of the highest tax rates in the state to the middle of the pack. Continued emphasis on a competitive tax rate will help facilitate a COVID-related economic recovery and additional growth in future years through a more affordable environment for residents and businesses. Looking ahead, it is likely Iowa City’s property tax rate will settle at or near the Fiscal Year 2022 level. General Fund Overview The General Fund, which includes services such as police, fire, parks and recreation, and general government, represents approximately one third of the total budget. General Fund operations are largely supported by property taxes, which constitute approximately 69% of the total revenue in this fund. A complete breakdown of General Fund revenue sources can be viewed in the following pie chart.

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