The Riverside City Council has set February 1st for a public hearing on their proposed property tax levy for fiscal year 2022.

This is the second year Iowa municipalities have had to hold a public hearing on the proposed tax levy, following a state law passed in 2019. City Administrator Christine Yancey says the maximum levy for Riverside property owners will not change from the current rate of $8.10 per $1,000 assessed valuation. The money generated by the tax goes towards the city’s general government to operate and the budget is set off that revenue number. Yancey says the city will see increases in some insurance costs, but they’re able to keep the tax rate the same because property values have increased by over 1.5 percent, giving the city more funds to work with, “This year we’re anticipating 900,390 (dollars) and last year we received 886,883 (dollars).”

Yancey says the city looks to keep expenses in all departments near the same level as the current fiscal year, but they also have a percentage of the budget built in for possible employee wage increases.