City Council Lowered the Tax Levy Rate Again.
The City Council approved the tax levy rate for the upcoming fiscal year at its March 22nd meeting. The new levy rate is $11.27250, a $0.35165 reduction from the current rate of $11.62415 per thousand dollars of taxable valuation and the 16th consecutive year in levy rate reduction. The continued decrease is possible through the voter-approved, Local Option Sales and Services Tax (LOSST) and execution of the financial and economic development policies adopted by the City Council that has led to significant valuation increases.
What does this mean to a homeowner in Bondurant with a home at the median valuation? The graph below shows that the property owner will be effectively the same in City taxes this year as last, even though the median valuation of their home has grown. Look for more information about the budget in the near future!
