Master Proposed Book FY2023

Iowa City’s levy rate dropped approximately four-tenths of a percent (0.4%) in fiscal year 2021 to $15.773, and another six-tenths of a percent (0.6%) in fiscal

year 2022 to $15.673. The rates of overlapping

jurisdictions are not certified as of this publication.

City pension contributions has grown six of the last nine years at a rapid pace, except fiscal year 2017 and fiscal year 2016 contributions that were a decrease of eight-tenths of a percent (.8%) and two and five-tenths of a percent (2.5%), respectively.

*FY14 is first period reported on an accrual basis.

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.

40