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Waterloo council reviews proposed FY2026 levy rates, launches public budget simulator
Summary
City finance director presented proposed fiscal 2026 levy rates that would start at $22.6869 per $1,000 taxable valuation, described a roughly $2.3 million deficit and introduced an online budget simulator for public input; no levy was certified and council directed staff to collect suggestions before state reporting deadlines.
Waterloo Finance Director Bridget Wood told the City Council at its March work session that the city’s proposed levy rate for fiscal 2026 is $22.6869 per $1,000 of taxable valuation and that the city is initially facing a roughly $2,300,000 budget deficit.
Wood said the figures presented are “not the ones that we will end up certifying, but these are the ones that we start with,” and explained the timeline for state reporting and public notices. She told council members the proposed rates must be entered on the state’s website by March 5 so the county auditor can mail notices to residents around March 20.
The finance director said police and fire would account for $14.34 of the proposed levy — about 63 percent of the general fund portion — and that debt service is proposed at 3.32151 per $1,000. Wood showed a breakdown of program functions and said public safety represents roughly $46,300,000 in expenditures in the proposed budget. She also said residential rollback set by…
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