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Waverly council hears budget briefing as city projects stable valuation growth, warns of state rollback effects
Summary
City staff told the City Council on Jan. 25 that Waverly’s 2024 taxable valuation rose sharply but state rollback rules will reduce the portion available for local taxing; the briefing set the stage for the city’s budget hearings and included a unanimous vote to approve the meeting agenda.
The Waverly City Council received an overview of the city’s fiscal picture and the forces shaping the 2025 budget during its Jan. 25 meeting. City administration said Waverly’s 100% valuation climbed substantially in the most recent assessment cycle, but state “rollback” rules reduce the share of valuation that local governments can tax — creating uncertainty for multi-year planning.
City Administrator James, who opened the budget briefing, told the council the city’s total (100%) valuation moved above $1.1 billion and that the taxable share after rollback increased but by far less than the 100% figures suggest. He said the city saw…
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