(Atlantic, IA) – During his report to the Atlantic City Council, Wednesday evening, City Administrator John Lund discussed the effects of a property tax bill that the Iowa legislature passed, Sunday. The bill will deliver a $4 billion tax cut over six years and impose a 2% cap on local government levies. Lund said he’s trying to “Strategically address things,” to know what he wants done by the end of the FY26 Budget year, which ends June 30th.
Lunds said the big thing is with regard to the main operating fund.
John Lund said the business income property tax credits are gone.
He said he’s going to be spend a lot of time over the next couple of months analyzing spread sheets.
He said as part of the process, City Council members will probably end-up seeing a lot of Resolutions come before them with regard to “Fund Rules,” that the City had never before been required to consider in-depth, because much of it was previously handled administratively.
Lund said there will be a Department Head meeting next week, which includes a disaster response and assessment table-top exercise, especially in-light of the Greenfield tornado disaster and flooding in Spencer. He said also there will be a Work Session 5-p.m. Wednesday, May 13th at City Hall, with regard to a CAT (Community Attraction and Tourism) grant application and financing framework.
