gavel Notice of Public Hearing
Proposed Property Tax Levy — Fiscal Year July 1, 2024 - June 30, 2025.
Meeting Date
April 8, 2024
Meeting Time
5:00 PM
Meeting Location
Lenox City Hall, 200 S Main St, Lenox, IA 50851
City Website
City Telephone
(641) 333-2228
The City Council will conduct a public hearing on the proposed Fiscal Year City property tax levy as follows:
At the public hearing any resident or taxpayer may present objections to, or arguments in favor of the proposed tax levy. After the hearing of the proposed tax levy, the City Council will publish notice and hold a hearing on the proposed city budget.
| Category | Current Year Certified 2023-2024 |
Budget Year Effective 2024-2025 |
Budget Year Proposed 2024-2025 |
|---|---|---|---|
| Taxable Valuations for Non-Debt Service | $40,576,287 | $47,576,736 | $47,576,736 |
| Consolidated General Fund | $356,058 | $356,058 | $405,327 |
| Operation & Maintenance of Public Transit | $0 | $0 | $0 |
| Aviation Authority | $0 | $0 | $0 |
| Liability, Property & Self Insurance | $61,752 | $61,752 | $85,093 |
| Support of Local Emergency Mgmt. Comm. | $0 | $0 | $0 |
| Unified Law Enforcement | $0 | $0 | $0 |
| Police & Fire Retirement | $11,528 | $11,528 | $12,936 |
| FICA & IPERS (If at General Fund Limit) | $37,652 | $37,652 | $41,352 |
| Other Employee Benefits | $39,830 | $39,830 | $52,416 |
| Capital Projects (Capital Improv. Reserve) | $0 | $0 | $0 |
| Taxable Value for Debt Service | $42,284,823 | $48,426,861 | $48,426,861 |
| Debt Service | $77,753 | $77,753 | $75,419 |
| CITY REGULAR TOTAL PROPERTY TAX | $584,573 | $584,573 | $672,543 |
| CITY REGULAR TAX RATE | 14.32932 | 12.25827 | 14.10813 |
| Taxable Value for City Ag Land | $509,305 | $603,031 | $603,031 |
| Ag Land | $1,530 | $1,530 | $1,811 |
| CITY AG LAND TAX RATE | 3.00375 | 2.53718 | 3.00375 |
home Residential Property
Actual/Assessed Value: $100,000
storefront Commercial Property
Actual/Assessed Value: $100,000
info Note
Actual/Assessed Valuation is multiplied by a Rollback Percentage to get to the Taxable Valuation to calculate Property Taxes. Residential and Commercial properties have the same Rollback Percentage at $100,000 Actual/Assessed Valuation.
trending_up Reasons for Tax Increase
- Increase in liability and property insurance
- Increase in employee benefits
Note: If proposed exceeds current year certified