The City of Mount Vernon approved their final levy for the coming 2024-25 fiscal year.
The city’s levy rate has increased this year to $13.33601 per $1,000, the second of three planned levy rate hikes to bring the city’s levy rate to $13.50 per $1,000 after the levy rate had remained at $12.99 per $1,000 for a number of years.
With the impact of residential rollback, it could be possible some homeowners whose property is valued at $200,000 could see a reduced tax bill this year, with that levy rate generating a tax bill of $1,236.06 this year compared to $1,437.84 last year.
“The average assessed value of property in the State of Iowa increased by 22 percent in 2023,” city administrator Chris Nosbisch said. “If that is the case, the tax bill might not have reduced as much.”
The city’s sewer rates will also be increasing by eight percent this year.
While the city shows $18.39 million in funding and roughly $16.54 million in expenditures, much of that is tied to Capital Improvement Projects the city has in place to be tackled this year, with roughly $8.3 million devoted to those projects. That includes the Fifth Avenue Water Main Project, visitors center improvements, Lester Buresh Family Community Wellness center’s new generator, sewer improvements, the water meter radio read replacement being bid, $2 million in pool renovations and the $1 million for the Glenn Street expansion for the Cottonwood Housing development.
Mount Vernon’s levy rate ranks 174th out of 274 cities with populations of 1,000 or more, meaning 173 have a higher City levy. Mount Vernon ranks 566 out of 940 cities in Iowa for it’s current levy rate. The average levy rate for all cities in Iowa is $12.34 per $1,000.
MV approves final budget and levy
Nathan Countryman, Editor
April 25, 2024
About the Contributor
Nathan Countryman, Editor
Nathan Countryman is the Editor of the Mount Vernon-Lisbon Sun.