FY25 Proposed Budget

Iowa City’s levy rate dropped approximately six-tenths of a percent (0.6%) in fiscal year 2022 to $15.673, and another two tenths of a percent (0.2%) in fiscal year 2023 to $15.633 and remained the same in fiscal year 2024. However, the percent of total decreased 1.5% in fiscal year 2024.

City pension contributions has grown seven of the last ten years at an average increase of 2.7% over those ten years.

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MFPRSI employee contributions are set by statute, currently nine and four-tenths percent (9.4%). City contributions are determined by the system’s actuary. IPERS City and employee contributions are currently a sixty/forty split (60/40), with the City paying sixty percent of total contributions. See page 677 for additional information

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