116 3rd St SE
Cedar Rapids, Iowa 52401
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Iowa City approves $54 million budget
Gregg Hennigan
Mar. 7, 2012 4:45 pm
The Iowa City Council Tuesday night unanimously approved a $54.5 million budget for the fiscal year that starts July 1.
The financial plan includes a property tax rate of $17.27 per $1,000 of taxable value, down from this year's $17.84.
Because the rollback, which the state sets and is the percentage of a residential property's value that is taxed, is increasing next year, homeowners will pay more in property taxes. The owner of a $100,000 home will pay about $876 in city taxes next year, which is $10 more than this year.
The budget also calls for increases in fees for city bus riders and storm-water use.
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