Master Proposed Book FY2023

EMERGENCY LEVY FUND

The Emergency Levy Fund accounts for the collection and disbursement of the Emergency property tax levy. Legal authority for the fund is established by Iowa State Code chapter 384.13 which provides authority for municipalities to establish an emergency fund and certify a property tax levy not to exceed $.27 per $1,000 of valuation. The City must be at its General Fund property tax levy limit of $8.10 for the City to be able to utilize the Emergency levy. On August 6, 2019, the City Council declared a climate crisis for the City and accelerated the City’s goals for carbon emission reduction to reach net-zero emissions by the year 2050. As a result of this declaration, the City Council has accepted an action plan in their effort to accomplish this goal. The Emergency property tax levy is being utilized to enhance and support efforts to reduce carbon emissions city-wide and within City operations. The Emergency property tax levy is being utilized in fiscal year 2023 for climate action purposes and is being set at $.20 per $1,000 of valuation. This is expected to generate approximately $850,000 in revenue to be utilized to help the City meet its climate action goals. The levy rate is $.04 than the levy rate in fiscal year 2022 of $.24.

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