Decorah City council raises the limit on possible property tax levy increase
Posted: Mon, Feb 3, 2020 5:57 PM
The Decorah City Council has voted unanimously to increase the limit of how much the city's property tax levy will increase for the 2020-2021 fiscal year.
State law requires a limit of two percent per year in the growth of property tax revenues--or a resolution must be approved by a two-thirds vote of the city council. The new limit approved Monday night is a 6.57 percent increase. City council members say they will not be approving a budget with that large of an increase in property taxes, but it will be higher than the two percent limit because of a 1.58 percent decrease in property valuations for next year.
Another public hearing on the proposed 2020-2021 city budget will be held at 5:45 p.m. on Monday, March 16th at City Hall.