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Waterloo finance director outlines FY2027 budget, proposes certification that would lower city share of property tax
Summary
Finance Director Bridget Wood presented the proposed FY2027 budget and the mayor’s recommended certified levy. Wood said a state rollback and use of the 20% local option sales tax transfer would reduce the city’s share on a $100,000 house by about $63 (roughly 6%); the budget will be published tomorrow with a public hearing set for April 20.
Bridget Wood, Waterloo’s finance director, presented the proposed fiscal year 2027 budget at the April 6 work session and recommended certifying a levy that she said would lower the city’s portion of property taxes for many residents.
Wood explained that a state rollback — which she cited at 44.5345% — reduces the taxable portion of assessed value and that, under the mayor’s proposed levy, the city’s share on an example $100,000 home would fall from about $1,034 to $971, a roughly $63 decrease. She said the city estimates a net-zero increase overall by balancing roughly $2.285…
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