During a meeting of the Atlantic City Council, Wednesday evening, City Administrator John Lund presented a preliminary overview of the FY21 Budget. The timeline calls for the Council to receive the proposed Budget on Feb. 17^th, a Public Hearing on the Budget and maximum tax dollars resolution and proposed budget adoption on March 3^rd, and on March 17^th, a Public hearing and adoption of the final budget. Lund said the property tax levy is expected to remain the same as last year, at $16.56.

(That’s because the residential rollback went up. Residential taxes per $100,000 of assessed value he says, will increase by $22.11, or 2.42%.)

Mayor Dave Jones explained the City has no control over the amount of rollback. That’s set by the Iowa Legislature. Lund said also, there will be no increase for commercial and industrial properties.

(There would be no increase and for multi-residential the rollback declined so multi-residential taxes will decline $62.10 per $100,000 of valuation, or 5.26%.)

Lund says between the rollback changes and TIF catcher, and debt service versus other levies and new construction coming online, total new property tax dollars the rate will be 2.59%, but the resolution will show 2.87%, which is still better than the 2.71% increase last year.

He said there would be no recommended changes to permits and licenses, fees and fines, wastewater utilities or stormwater utility. The FY 22 Budget however, will likely see some changes in the rates the City charges for wastewater, which has not been changed since 2014.

He concluded by saying “As it stands, things are looking pretty good.”