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The City Council passed the fiscal year 2025 budget at the April 23rd, 2024 City Council meeting and is lowering the property tax levy. Here are 5 things to know about the budget.
1. The Tax Levy Is Decreasing
The total city tax rate for fiscal year ‘25 will decrease from the current year of $11.07553 to $10.84518.
2. The City Makes Up Only 30% of Your Property Taxes
The school and county make up the majority of the other 70%.
3. Public Safety Is a Large Portion of the Budget
Public Safety makes up 43% of the general fund in the FY 25 budget. This year, the updated union contract with IAFF and the new 28E with Johnston for Fire and EMS Services were additional expenses.
4. New Property Tax Law Affects the Budget
The new property tax law passed by the state legislature ratchets down our general fund levy by at least $0.22/$1000. The law makes it so that cities in Iowa's revenues don't grow as quickly, therefore they take in less money than they otherwise would. This may affect the types and number of projects (road repairs, additional services) that cities can complete. Fortunately, Grimes is in a strong financial position.
5. FY 25 CIP Projects Include New Fire Station, Park Improvements, and Road Repairs
Here are a few examples of proposed and current projects - this is not a complete list: new fire station construction, Lions Park & Autumn Park Trail improvements, SE Little Beaver & SW 19th St water main replacement, E 1st St & Gateway Dr intersection, traffic calming (NE Heritage Dr, NE Park Dr & NW 8th St), and traffic signals at Beaverbrooke & Heritage on Gateway.
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