2022 Maximum Levy Rate

The City of Bondurant will conducted a public hearing on the “Proposed Fiscal Year 2023 City Property Tax Levy” on February 7, 2022, at 6:00 p.m., both virtually (via zoom or in person at City Hall, 200 Second Street NE, Bondurant.

The City is required by State Law to publish this notice in advance of the final proposed budget hearing notice.

The rate notice prescribed by the State can be confusing referencing this as a hearing on the "Proposed Property Tax Levy" as this is neither the property tax levy the City is proposing nor the full levy rate. This hearing is on the maximum amount of revenue the City can collect from certain tax levies. For the City of Bondurant, the maximum amount of revenue that could potentially be collected from the levies included in this hearing notice IF the City chose to fully utilize each of the levies, is $3,967,377, significantly higher than the FY22 number of $2,804,871. (Please note the City does not intend to use all of these levies, nor does it intend to use the levies in the amount listed in the notice.) The amount of revenue that could be collected is greater than the prior fiscal year based on the City's growth. Please note that this does not mean an increase in individual homeowners’ property taxes and it does not mean that the City is proposing to collect all of these revenues.

The City is proposing to lower its levy rate for the 16th year in a row.

The increase in revenue shown in the notice is driven primarily by new construction and significant new industrial and commercial valuation. Some growth is driven by the fact that it was a revaluation year for residential properties, which rose in value an average of 7.45%. The final property tax levy rate will also again be reduced by the use of Local Option Sales and Services Tax, which is not reflected in the Max Levy information. The City has used LOSST to reduce property tax levy rates since FY21 after Bondurant residents overwhelmingly approved a sales tax measure. (The hearing on the full budget and final proposed levy rate will be held in March.) The City is required by State Law to publish the “Max Levy” notice in advance of the final proposed budget hearing notice.

To better illustrate what an average homeowner will pay in City property taxes, below is a five-year overview, including the FY23 full, proposed levy rate. The calculation is based on a home of median value, adjusted for the revaluation year and adjusted for the updated rollback information. As you can see, a property owner with a home valued at $236,390, will pay approximately the same in property taxes in FY23 as they did in FY22, even with the average increase in valuations that went into effect January 1, 2021.

If you have questions about the City’s budget, budget process, or financial information, please do not hesitate to contact Marketa Oliver, City Administrator, or Jené Jess, Finance and Employee Services Director, at 515.967.2418.