HomeMy WebLinkAboutSupplemental Attachments 3/3/2025 3/3/2025
FY2026 PROPOSED LEVY RATES
u CITY OF WATERLOO, IOWA
` � March 3, 2025
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CITY OF
%I /1TERLOO
IOWA
Community of Opportunity
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FY2026 Proposed
Levy Rates
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3/3/2025
Dollar Request With Property Taxes
Limit Purpose Utility Replacement Levied Rate
5y.;' 0. t_ ;er ;=un:: 5 2/047385 ,b4118 a 98.91000
Non-Voted Other Pemuss:ble Levies E;
0swoo Opr&Maint publicly owned Transit 621 99= --1' ,, SO 68664
avow Aviation Authority(under sec 330A 15) 0
Am Net Liability.property&self insurance costs 14 2 679.02 S . -. 51 13411
as Net Support of a Local EmerqMgmt Comm ,,, 93 20,4 c. 2.- ss S0.03949
Voted Other Permissible Levies
150000 Unified Law Enforcement a n 0.
Total General Fund Regular Levies(5 thru 24) .
3.0037S AO Land
Total General Fund Tax Levies (25+26) _ Do Not Add
Speciet Revenue Levies
Am Nee Police&Fire Retirement _. 5 25,3170 -_ .. _ 13 23s3
aa1Wo FICA&IPERS(if general fund at levy Inn) 10 2.633 403 _ $111080
aaNee Other Employee Benefits 31 112.417,057 - ..- :s 28652
Total Employee Benefit Levies (29,30,31) 32 20.303.630 '9 is 54515
Valuation
As Req SVtes Gas&Elec VA thou t Gas B Set ';;i
551.10 1 t4 a. 34
SSMD 2 ,:.c:,;::..
SSMD 3 (04 m_.� 3d wa.:,: 0, GE ,
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55M04 0)__ —m n n;;:;;;> D'.. E9
"iiiiSSMDS w m 555
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SSMD 6 (4 _m mg :....... 0 s.,
551.1D7 de m Mt :1:1':''1:' 0 0
SSMGB u, ,4 nut G n1-
Total Special Revenue Levies 03 20.303.630 ;` 19,644,518
Ant Net Debt Service Levy 76.10(6) 40 9.954,114 a 9,699,413:
067500 Capital Projects (Capital Improv.Reserve)a 41 — -- 0' 71 .-
Total Property Taxes (27+39+40+41) 42 55,745.961 42 S4,006228
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F01m4544 CITY OF waterloo o.pau.aaatm.yerrr+
ADOPTED BUDGET SUMMARY
YEAR ENDED JUNE 30,2026 Fiscal Years
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SPECIAL SPECIAL DEBT CAPITAL BUDGET RE ESTIMATED ACTUAL
GENERAL REVENUES REVENUES SERVICE PROJECTS PERMANENT ROPRIETAR9 2026 1025 2024
_—W _- (8) ,K► ._ all
1 In P:1 (PI III / 1N 62391. 23902048 21d4480 1384602
a' icio... _ .9 21.7t8.433 21.785.063 23423.923
i .sfi..ii- 7144,520 l 12,500 1514520
1 519 705 1,677,792
uadtdmya.dRnpmy B 171550C "^• := I. 215000 2714680 2448000 8359.115
lunrountroutal - - 1736.570 90.02417r 76.399.232 39466112
thaaniaFe54684444.e 10' ...- C 26001.316 40.278.007 39.273-4 131 41276.122
5i><a.ia,es,aea. 11 245002 10 0001 255 000 510(300, 374,331
0,ed.,n.a.: 12 8.493.773 i 0 10896.023 11940.270 14462.646
sm-TxalFewrua 13 6142514' -:.' :- :-': - - .t SrE 215309116_..?26795576 1E8029.798
aMe Fna.p0ae40010R :.•..:
lad Tra,s/on% -: :2 -. '956
Aus<ed.aaa 15 -.. 0 0 0 0
Aaepd:dC.j.Al t� 16 85000 0 0 0._
Tad Revenues adth.,Sources 17 76826353 78323094 211.6521 '3 22?403 2'
Eapendtees a 0411e Financing Uses
P,El Sae, 1.Z 41 C14.197 5 22,1324 C 19 295 521 44 70'597 42 521 843
Pbk'Sa4: -__- 19 7,479,927 34,657276-_-- 0 42.037.203. 44,665.63% 32596.086
nean and s,a.lSvn,s.. 20 42763 8 0: 412,763 397202 372.010
0ee...4111«,wi,._®, 21 14,023261 0 0 14 023,261 13 548.997_ 12,282,293
Comm,.+vxd(uuweO..hpent 22 4.409,506 17,116,680 3.826902 ..25,353.088..!25.840488` 17.653.528
G. d04swa.e 23 13.422,123 17,472 0 13.439595 12 841.409 13.461,747
0.4.9a+e. 24 0 0 7 'i::-:,.' 19.066.712 15 992120 14.674,659
t4+dvrryeas 25 0 14 UO 000 97.382175 134 437 585 43 378.080
Tad Gerenm.et Aaait &edo iesPun 2 I 912 72,2 --. - 24013318 292430797 177140.250
Ou:e,es hueReuixy 6sanus ' - 37.919387 43 071 767 31.956.464
TadC..se.T*.E*.ei.aes 23 71: " '50761 -- 3826902 13CE66842175 0 3.919987 291.933305 335.502564 209096714
Tad lnadee.Q. 29 5 300.000 19.086 372 0 0 2.116 076( 41.706 846 51 859 098 25 774 956
sIFiet.__. -----Rt -__._ .._
Tad ALL 6.eeA.e.IFt.aLaWas 30 86 C61,-- _ 1291t2 :CS?2' ,£8:i2+': 0 13 n_r5, J33 c;i Lt_ 38?361662 2.43'16'0
E.,:._,P.w.6ffaa x50nv.0a, 31
Ijo.j..mrdhae,rn.naa,a. 32 -5: .. - - _ .. -1315886 _ ..
9.9mnn9 fund Bdarue hilt ,1,12 212 2 1: ':
E12,
Wino FmdBaa.ce1um 3024I 33229191, 2t71 7 9_ _.423 61 611,16 - n5. C '3 4: _00s_817 72°6<t011. 1545 nr:
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3/3/2025
FY2026 Proposed Levy Rates
Proposed Tax Levy Rate $22.68690
Non-Ag Change 2.699%
Ag Change (.001%)
Tax Rate Comparison-Current VS.Proposed
Residential property with an Current Year Budget Year
Certified Proposed percent
Actual/Assessed Valuation of 5100.000.5110.000 2024/2025 2025/2026 Change
City Regular Residential 1.023 ..
Commercial property with an Current Year Budget Year percent
Certified Proposed Change
Actual/Assessed Valuation of 5300.000/S330.000 2024/2025 2025/2026
City Regular Commercial 4515 5.229 17.14
Note:Actual Assessed Valuation is multiplied by a Rollback Percentage to get to the Taxable Valuation to cakul ate Property Taxes.Residential and commercial properties
have thesame rollback percentage through S150.000of actual/assessed valuation.
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FY2026 Proposed Levy Rates
Percentage of
Program Tax Levy Portion Levy
Police and Fire $ 14.34057 63%
Debt Service $ 3.32151 15%
All Other Services $ 5.02482 22%
Total City Levies $ 22.68690 100%
Total $ 22.68690
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3/3/2025
FY2026 Proposed Levy Rates
Program - Breakout of Other Tax Levy Portion
Building Inspections $ (0.05360)
Public Works $ 0.866700
Health & Social Services $ 0.118600
Culture & Recreation $ 2.92577
Community & Economic Development $ 0.174780
General Government $ 0.99257
Total Other $ 5.024820
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Where does my property tax dollar go?
;-..,,is 4\;,:..;,....VLL=_22,_!1., :.10 :1-1,1_,,,!7-• efh :4 '4. f:0:,7.0:4.'4 ICA•I Pi ria 4,,,F...;,..-7,771.7., ,
I ILL I-21131E I) ST.VI ES 4 WI.'.tmitigicA
C 81230251 [ ,.. ,. _41
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City of Waterloo Waterloo Schools Black Hawk Other
51 cents 32 cents Co 13 cents 4 cents
For the Year Ending 6-30-25
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3/3/2025
General Fund City Services*
Function Proposed Levy Rate
Expenditures
Public Safety $46.3 million
Public Works $7.5 million
Health&Social Services $0.41 million
Culture&Recreation $14.0 million
Community& Economic $4.4 million
Development
General Government $13.4 million
*Funded primarily by Property Taxes
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Debt Service Fund
Bond Interest
$2,964,100--N.,.
Admin Fees
$14,250 -
_______________________
$12,010,000
Bond Principal
For the Year Ending 6-30-2026
With the Proposed Levy Rates, property taxes will fund$9.9 million for
FY2026, and that revenue is restricted for debt repayment.
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3/3/2025
How are property taxes calculated?
• County Assessor sets property values
• State sets "roll-back" or the percentage of total
value that is taxable
• State issues "equalization orders" designed to
equalize values of different categories of
property every two years
• Cities, counties and school districts set their
portions of the levy rate
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How are property taxes calculated?
• The State continues to increase the residential
roll-back, resulting in 47.4316% of a home's value
being taxable for FY2026
• Changes started in FY2024 for Commercial,
Industrial, and Railroad Properties. Those
properties are taxed on the first $150,000 at the
residential rollback rate of 47.4316%. The
remaining amount over the $150,000 will be taxed
at the 90% rollback.
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3/3/2025
How is the tax bill on my home determined?
FY2025 FY2026
Certified Proposed
Assessed Value $ 100,000 $ 100,000
Times Rollback 0.463428 0.474316
Equals Taxable Value $ 46,343 $ 47,432
Divide by $1 ,000 46.3428 47.4316
Times Total Tax Levy Rate $43.12949 $43.74201
Equals Total Tax Bill $1 ,998.74 $2,074.75
City Portion of Tax Bill $1 ,022.99 $1 ,076.08
Projected Annual lncr (Decr) $ 15.42 $ 53.09
Percentage lncr (Decr) 1 .51% 4.93%
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FY 2026 Propeud Budget
You are in deficit.
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Proposed
Where Nr ..•g
Budget Input
Budget
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Simulator e .....a.......e:,:
https://waterloo.abalancingact.co `,ww„.a,www'.w.,e.. J
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3/3/2025
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10000..
Bridgett Wood
Questions? Director of Finance
Bridgett.Wood@waterloo-ia.org
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