WS - C - Certification of Taxes and Max Tax Levy

CITY NAME Tiffin NOTICE OF PUBLIC HEARING -PROPOSED PROPERTY TAX LEVY Fiscal Year July 1, 2021 - June 30, 2022 CITY CODE 52-490 The City Council will conduct a public hearing on the proposed Fiscal Year City property tax levy as follows: Meeting Date: Meeting Time: Meeting Location: At the public hearing any resident or taxpayer may present objections to, or arguments in favor of the proposed tax levy. After adoption of the proposed tax levy, the Council will publish notice and hold a hearing on the proposed city budget. City Web Site (if available): City Telephone Number: <table> <tr> <th rowspan="2">Iowa Department of Management</th> <th colspan="2">Current Year Certified Property Tax<br>2020/2021</th> <th colspan="2">Budget Year Effective Property Tax<br>2021/2022**</th> <th rowspan="2">Budget Year Proposed Maximum Property Tax<br>2021/2022</th> <th rowspan="2">Annual % CHG</th> </tr> <tr> <th></th> <th></th> <th></th> <th></th> <th></th> <th></th> </tr> <tr> <td>Regular Taxable Valuation</td> <td>1</td> <td>179,435,833</td> <td>209,444,241</td> <td>209,444,241</td> <td></td> <td></td> </tr> <tr> <td>Tax Levies:</td> <td></td> <td></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>Regular General</td> <td>2</td> <td>$1,453,430</td> <td>$1,453,430</td> <td>$1,653,931</td> <td></td> <td></td> </tr> <tr> <td>Contract for Use of Bridge</td> <td>3</td> <td>$0</td> <td>$0</td> <td>$0</td> <td></td> <td></td> </tr> <tr> <td>Opr & Maint Publicly Owned Transit</td> <td>4</td> <td>$0</td> <td>$0</td> <td>$0</td> <td></td> <td></td> </tr> <tr> <td>Rent, Ins. Maint. Of Non-Owned Civ. Ctr.</td> <td>5</td> <td>$0</td> <td>$0</td> <td>$0</td> <td></td> <td></td> </tr> <tr> <td>Opr & Maint of City-Owned Civic Center</td> <td>6</td> <td>$0</td> <td>$0</td> <td>$0</td> <td></td> <td></td> </tr> <tr> <td>Planning a Sanitary Disposal Project</td> <td>7</td> <td>$0</td> <td>$0</td> <td>$0</td> <td></td> <td></td> </tr> <tr> <td>Liability, Property & Self-Insurance Costs</td> <td>8</td> <td>$39,000</td> <td>$39,000</td> <td>$43,800</td> <td></td> <td></td> </tr> <tr> <td>Support of Local Emer. Mgmt. Commission</td> <td>9</td> <td>$974</td> <td>$974</td> <td>$974</td> <td></td> <td></td> </tr> <tr> <td>Emergency</td> <td>10</td> <td>$25,000</td> <td>$25,000</td> <td>$56,550</td> <td></td> <td></td> </tr> <tr> <td>Police & Fire Retirement</td> <td>11</td> <td>$0</td> <td>$0</td> <td>$0</td> <td></td> <td></td> </tr> <tr> <td>FICA & IPERS</td> <td>12</td> <td>$73,542</td> <td>$73,542</td> <td>$80,306</td> <td></td> <td></td> </tr> <tr> <td>Other Employee Benefits</td> <td>13</td> <td>$80,608</td> <td>$80,608</td> <td>$86,954</td> <td></td> <td></td> </tr> <tr> <td>*Total 384.15A Maximum Tax Levy</td> <td>14</td> <td>$1,672,554</td> <td>$1,672,554</td> <td>$1,922,515</td> <td>14.94%</td> <td></td> </tr> <tr> <td>Calculated 384.15A MaximumTax Rate</td> <td>15</td> <td>$9.32118</td> <td>$7.98568</td> <td>$9.17912</td> <td></td> <td></td> </tr> </table> Explanation of significant increases in the budget: Increase due to 84 additional single-family dwellings being built which increased the valuation, increase in the City's liability and property insurance and the additional of one employee added to the increase in FICA & IPERS and other employee benefits. If applicable, the above notice also available online at: tiffin-iowa.org and at https://www.facebook.com/CityofTiffinIowa/ *Total city tax rate will also include voted general fund levy, debt service levy, and capital improvement reserve levy **Budget year effective property tax rate is the rate that would be assessed for these levies if the dollars requested is not changed in the coming budget year