A public hearing will be held in Council Bluffs at 10-a.m. Monday, with regard to the proposed Fiscal Year 2015 Pottawattamie County Budget, which calls for an increase of $1.25 per thousand dollars assessed property valuations in the cities and $1.38 in the rural areas. The Daily NonPareil says rising costs of daily operations and a state-mandated reduction in commercial property tax bills are among reasons given by Pottawattamie County Supervisors for proposed increases in the county’s tax levies. The meeting takes place in the second floor meeting room at the Pott. County Courthouse.
Those factors, coupled with a state-mandated reduction in the property tax rollback for residential property, will likely result in higher tax bills for the fiscal year beginning July 1st. The county’s budget proposal calls for the tax levy to increase from the current $7.67 per $1,000 of taxable valuation to $8.92 for the coming fiscal year. If the budget is approved, those who live outside a community’s city limits would see the property tax levy increase from $10.87 per $1,000 in taxable valuation to $12.25.
For the fiscal year beginning July 1, property taxes will be based on 54.4 percent of a property’s assessed value. With the levy increase and the reduction of the rollback, the owner of a $100,000 home will pay $485 in county taxes, compared to $405 this year. The owner of a $200,000 home will pay $970 in county taxes, compared to $810 this year, while the owner of a $300,000 home will pay $1,455 in county taxes, compared to $1,215 this year.