FY2023 Adopted Budget

Property Tax Valuations Last Ten Fiscal Years

Assessed Valuation

Tax Collection Year: FY2023

FY2022

FY2021

FY2020

Residential

$

5,302,710,934

$

5,067,120,030

$

4,958,648,218

4,399,451,083 $

Agricultural (taxed at Ag rate)

1,574,220

1,727,980

1,748,000

2,539,080

Multi-Residential

544,717,108 1,048,701,445

539,398,739 1,056,414,063

539,636,381 1,060,943,044

489,176,499 932,699,374 76,905,588

Commercial

Industrial Railroads

77,491,638 4,380,355 2,779,716

79,998,654 4,072,190 4,339,508

80,663,794 4,488,469 6,152,547

3,601,348 7,386,408

Utilities w'out Gas & Electric

Gross valuation

6,982,355,416

6,753,071,164

6,652,280,453

5,911,759,380

Less: Military exemption

2,239,068

2,392,784

2,435,380

2,489,088

Net valuation

6,980,116,348 133,492,758 134,787,151 7,248,396,257

6,750,678,380 142,496,667 126,171,274 7,019,346,321

6,649,845,073 89,469,635 118,583,613 6,857,898,321

5,909,270,292 115,175,495 109,124,421

Incremental value

Gas and Electric Utilities Total Assessed valuation

$

$

$

6,133,570,208 $

Percent change

3.263%

2.354%

11.809%

3.824%

Taxable Valuation

Tax Collection Year: FY2023

FY2022

FY2021

FY2020

Assessment Limitation: Residential rollback Agricultural rollback Multi-Residential rollback

54.1302% 89.0412%

56.4094% 84.0305%

55.0743% 81.4832%

56.9180% 56.1324%

63.75% 90.0% 90.0% 100.0%

67.50% 90.0% 90.0%

71.25% 90.0% 90.0% 100.0%

75.00% 90.0% 90.0% 100.0%

Commercial and Railroad rollback

Industrial rollback Utilities rollback

98.5489%

Residential

$

2,841,405,824

$

2,837,384,852

$

2,719,569,602

2,490,442,298 $

Agricultural (taxed at Ag rate)

1,401,705

1,452,029

1,424,328

1,425,151

Multi-Residential

343,613,885 937,999,668 69,541,657

360,829,356 944,990,382 71,998,513

382,070,966 950,525,463 72,596,824

363,613,829 832,628,954 68,970,889

Commercial

Industrial Railroads

3,942,320 2,779,716

3,664,971 4,276,538

4,039,622 6,152,547

3,241,213 7,386,408

Utilities w'out Gas & Electric

Gross valuation

4,200,684,775

4,224,596,641

4,136,379,352

3,767,708,742

Less: Military exemption

2,239,068

2,392,784

2,435,380

2,489,088

Net valuation

4,198,445,707 133,492,758

4,222,203,857 131,180,258

4,133,943,972

3,765,219,654 115,175,495

Incremental value

84,077,937 40,156,239

Gas and Electric Utilities Total Taxable Valuation

44,017,962

40,595,608

42,719,065

$

4,375,956,427

$

4,393,979,723

$

4,258,178,148

3,923,114,214 $

Percent change

-0.410%

3.189%

8.541%

4.743%

Total Direct Tax Rate City of Iowa City

$

15.633

$

15.673

$

15.773

$

15.833

678