Public hearing will be March 4th on City of Decorah's 2019-2020 budget
Posted: Sun, Feb 3, 2019 4:57 PM
Under a proposed City of Decorah budget for 2019-2020, the cost of running city government next year would total $13.2 million.
The proposed budget calls for a property tax rate of $14.20 per $1,000 of assessed valuation--a 12 cent per thousand increase from this year.
City Administrator Chad Bird says the increase is due to needing to pay back loans for several projects. The total debt levy will be $2.18 per $1,000 of assessed valuation for three bond issues--the 2014 Highway 9 water and sewer utility project, the 2018 purchase of a new aerial ladder truck and the 2018 loan which combined $550,000 in library repairs and $200,000 in water department and fire station repairs.
Helping to raise money for the city will be a 2.11 percent increase ($7,376,165 in actual terms) in the total of taxable property valuations in the city.