(Okoboji)– Cities and counties across Iowa are formulating their budgets for the upcoming fiscal year.
The Okoboji City Council recently set April 7th as the date for a public hearing on that city’s proposed maximum levy. City Administrator Michael Meyers says the $3.83 per $1,000 of valuation that’s being proposed is down from the present rate of $3.99…
“That would be the statutorily required deduction. So the property tax law changed a couple of years ago that requires what I phrase as ratcheting back based on growth in assessments. And so that is the maximum by law that the city of Okoboji could levy if they choose to.”
As work continues on the budget and the final numbers are set, the maximum levy can only be decreased, it cannot be increased.
The April 7th public hearing will be held at 5:30 pm in the council chambers at Okoboji City Hall.
