City of Guthrie Center issued the following announcement on Jan. 21.
Max Levy Notice: Pursuant to SF 634 the city must prepare and publish a max hearing notice.
The notice must include the certified tax rate and requested tax dollars for certain specified levy rates for current year.
It must include the rate and requested dollars as they would be for the budget year, if the requested tax dollars were not increased from what they are in the current year.
It must include the proposed budget year property tax rate and requested dollars.
FY 20/21 Max Levy explanation of changes:
This year our assessments received an across the board valuation adjustment of over 12%. Therefore our levies that are based on the taxable assessed values are going up 12%. The levies included in this public hearing and their explanation of changes is as follows:
1) The general levy is going up $41,030. This is simply due to the valuation change.
2) The liability, property & self insurance costs is going up $7,710. This is due to the FY 18/19 cost savings of switching from ICAP to EMC insurance. In the budget year FY 18/19 too much was levied. This was adjusted for in FY 19/20 (lowering the amount needed to levy). The FY 20/21 has no such adjustments.
3) The emergency levy is going up $1,368. This is simply due to the valuation change.
4) The amount for FICA and IPERS is going up $15,929. This is up corresponding to the salary adjustments for January 2020. The base adjustment was 4% but some adjustments were as large as 8.39% due to the additional $1,500 on top of the 4%.
Interesting enough, our overall levy for our full budget is only changing by .01996. The rate for FY 19/20 was 15.87839 and the rate for FY 20/21 should be 15.89535.
Original source can be found here.
Source: City of Guthrie Center