Taxable valuations are down again this year for Charles City.
During their meeting Tuesday night, City Administrator Steve Diers told the City Council that the City’s taxable value dropped by about $3.5 million dollars. That calculates out to around $30,000 less in General Fund dollars to use for the new fiscal year starting July 1st.
Still, Diers says the numbers weren’t all bad.
Diers says he talked with the Floyd County Assessor’s office about the reasons impacting the City’s taxable valuations.
Diers adds that the state is set to reimburse local governments for the reduction in taxable value, but to what level remains to be seen.
Diers has noted previously that the tax rollbacks are beneficial to property owners and taxpayers, but it makes it tougher for cities to provide services while also trimming the budget.
