Story County proposes tax levy adjustments amid valuation discrepancies

During the recent Board of Supervisors Public Hearing on April 7, 2025, Story County officials discussed the proposed property tax levy for the upcoming fiscal year, highlighting significant changes that could impact local residents. The proposed tax rates indicate a decrease in both the general and rural levies, which is expected to provide some relief to taxpayers.

The general supplemental levy is set to decrease by over 38 cents per thousand dollars of assessed value, dropping from 4.415 to 4.03. Similarly, the rural levy will see a reduction of about 8 cents, from $7.29 to $7.21. These adjustments come as part of the county's efforts to manage tax rates amid changing property valuations.

However, the communication sent to residents regarding these changes has raised concerns. The notice, which cost the county approximately $17,000 to distribute, does not provide a complete picture of the overall tax burden. It only includes information from the three largest taxing entities: the school district, the city, and the county. Notably, it assumes a 10% increase in property valuations, a figure that does not reflect the actual 2.29% increase experienced in Story County.

Officials acknowledged that while the mailing is required by state law, it may lead to confusion among taxpayers. The incomplete nature of the information could mislead residents about their actual tax liabilities, as it does not account for additional levies from local townships or other entities, such as fire services.

The meeting also served as a platform for residents to ask questions and seek clarification on the proposed rates and their implications. County officials emphasized the importance of public engagement during these hearings, encouraging residents to participate and voice their concerns.

As Story County moves forward with the budget process, the adjustments to the property tax levy reflect a commitment to transparency and responsiveness to community needs. The next steps will involve further discussions and evaluations to ensure that the final tax rates align with the county's financial goals while considering the impact on residents' daily lives.