The Storm Lake City Council this week set the date for a public hearing regarding setting the tax levy rate and maximum property tax dollars.
Storm Lake’s regular tax rate for the upcoming fiscal year is proposed at 13.60, which would increase from the current rate of just over 13.40. In recent years, the tax rate peaked at around 14.59 in 2017. City Finance Director Brian Oakleaf said the proposed 13.60 rate would be almost identical to the rate a decade ago…
The 13.60 tax rate would be lower than most other similar-sized and valued cities in Iowa. Spencer’s tax rate is set to increase from 13.19 to 13.98.
Oakleaf pointed out that a decade ago, the city’s fiscal year 2015 general fund budget of about four-million dollars was spent on over a dozen different categories. The fiscal year 2025 general fund budget of about 3.1 million dollars is going toward just six categories including police, fire, general government, code enforcement, outdoor waterpark, and library…
The tax levy rate public hearing will be held on Monday, April 1st at 4:30pm in the council chambers at Storm Lake City Hall.
