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Sioux City council hears budget squeeze as state tax changes push proposed levy higher
Summary
Council members said recent state law changes forced a higher proposed levy; staff applied technical changes that trimmed the residential impact to about $50 per $100,000 of assessed value before further budget decisions were finalized.
Sioux City Council members opened a multi-hour budget hearing by warning residents that changes enacted at the state level have forced the city to seek higher property tax revenue.
Finance staff and council members told the hearing that, as presented in the council’s budget books, the levy would initially raise a residential property owner’s tax by about $56 per $100,000 of assessed value and a commercial property by about $137. Council and staff later said technical corrections reduced the residential increase to about $50 per $100,000 and the commercial increase to…
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