FY2022

The value of building permits issued reached an all-time high of $388 million in 2016. The value of building permits was at $87 million in 2020, which was below the ten-year average of $184 million due to a lag in construction during the COVID-19 pandemc.

One measure of local economic health is hotel/motel tax receipts. The City uses hotel/motel tax receipts to augment funds for public safety, parks & recreation services, and the Convention & Visitors Bureau. Generating revenue from non-Iowa City residents reduces the tax burden on residents. Fiscal year 2020 revenues are down due to the onset of the COVID-19 pandemic.

*FY14 is first period reported on an accrual bases.

In 2009, the State of Iowa enacted legislation establishing cities’ right to impose a franchise tax on gas and electric utilities. On February 16, 2010, the City Council passed and approved an ordinance establishing a one percent (1%) tax. Of the $884,000 for fiscal year 2020, $532,000 funded a portion of the operational costs associated with Fire Station #4 and maintenance of street right-of-way.

*FY14 is first period reported on an accrual basis.

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