FY26 Proposed Budget

Property Tax Valuations

Last Ten Fiscal Years

Assessed Valuation

Tax Collection Year: FY2026

FY2025

FY2024

FY2023

Residential

$

7,187,768,101

$

7,078,353,727

$

5,932,542,314

$

5,302,710,934

Agricultural (taxed at Ag rate)

1,661,050

1,789,188

1,650,370

1,574,220

Multi-Residential 1

-

-

-

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

Commercial

1,183,679,130

1,187,202,405

1,058,466,499

Industrial Railroads

88,393,670 4,993,223

87,930,360 5,041,874

77,109,703 4,628,817

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

Utilities w'out Gas & Electric

284,700

276,868

269,478

Gross valuation

8,466,779,874

8,360,594,422

7,074,667,181

6,982,355,416

Less: Military & Homestead exemption 3

27,745,500

15,527,428

2,150,172

2,239,068

Net valuation

8,439,034,374 161,426,211 186,696,295 8,787,156,880

8,345,066,994 188,582,994 173,705,884 8,707,355,872

7,072,517,009 134,159,857 161,652,144 7,368,329,010

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

Incremental value 4

Gas and Electric Utilities Total Assessed valuation

$

$

$

$

Percent change

0.916%

18.173%

1.655%

3.263%

Taxable Valuation

Tax Collection Year: FY2026

FY2025

FY2024

FY2023

Assessment Limitation: Residential rollback Agricultural rollback

47.4316% 73.8575%

46.3428% 71.8370%

54.6501% 91.6430%

54.1302% 89.0412%

Multi-Residential rollback 1 Commercial and rollback 2

NA

NA

NA

63.75% 90.0% 90.0% 90.0% 100.0%

90.0% 90.0% 90.0% 100.0%

90.0% 90.0% 90.0%

90.0% 90.0% 90.0% 100.0%

Industrial rollback 2 Railroad rollback 2 Utilities rollback

100.0%

Residential

$

3,388,287,368

$

3,260,915,759

$

3,208,598,660

$

2,841,405,824

Agricultural (taxed at Ag rate)

1,226,809

1,285,294

1,512,444

1,401,705

Multi-Residential 1

-

-

-

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

Commercial

1,007,143,659

1,008,744,853

901,891,655 68,348,823

Industrial Railroads

78,596,511 4,475,402

78,155,039 4,518,715

4,150,574

3,942,320 2,779,716

Utilities w'out Gas & Electric

284,700

276,868

269,478

Gross valuation

4,480,014,449

4,353,896,528

4,184,771,634

4,200,684,775

Less: Military & Homestead exemption 3

27,745,500

15,527,428

2,150,172

2,239,068

Net valuation

4,452,268,949 124,505,761

4,338,369,100 137,141,542

4,182,621,462 134,159,857

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

Incremental value

Gas and Electric Utilities Total Taxable Valuation

42,653,413

41,986,461

43,501,718

44,017,962

$

4,619,428,123

$

4,517,497,103

$

4,360,283,037

$

4,375,956,427

Percent change

2.256%

3.606%

-0.358%

-0.410%

Total Direct Tax Rate City of Iowa City

$

15.633

$

15.633

$

15.633

$

15.633

1 Beginning in FY2024 Multi-Residential is included with Residential. 2 Beginning in FY2024 the first $150,000 of assessed value is taxable at the Residential rollback and then the remainder at 90%.

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