City Council Public Hearing Property Tax Levy

City Council Public Hearing Property Tax Levy Agenda Tuesday, March 24, 2026 at 6:30 PM Asbury City Hall, 5290 Grand Meadow Drive, Suite 1, Asbury, Iowa 52002 Page 1. Meeting Opening A. Call to Order B. Roll Call C. Citizen Input This is the time for persons to provide comment during the meeting. a. To make a public comment please use the “Chat” function for those joining via Zoom or dial star 9 (*9) from your phone. The moderator will open the lines one at a time and announce your name or phone number. b. If attending the meeting in person, please state your name and address before making your comments. c. The Mayor may limit each speaker to three minutes. The public comment agenda item is not intended as a question and answer forum. If a person has a question(s) for the Mayor or City Council, the question(s) may be submitted prior to or after the meeting in writing, or email info@cityofasbury.com or call City Hall 563-556-7106. All questions will be answered during or after the meeting in a timely fashion. 2. Suspend with the Reading and approval of the last minutes 3. Public Hearing A. Resolution No. 15-2026, a resolution to approve the proposed Property Tax Levy. 3 Proposed Property Tax Rate Set the Date for Public Hearing 02242026.pdf 4. General Fund - Revenue 5. Public Comment for New Items Not Previously Presented 6. Adjournment Page 1 of 3  A. Adjourn Meeting Motion to adjourn Title Vi Statement - The City of Asbury receives federal funding and may not discriminate against anyone on the basis of race, color, or national origin, according to Title VI of the Civil Rights Act of 1964. For more information or to obtain a Title VI complaint form, call 563-556-7106. Page 2 of 3  CITY NAME: NOTICE OF PUBLIC HEARING - CITY OF ASBURY - PROPOSED PROPERTY TAX LEVY CITY #: 31-282 ASBURY Fiscal Year July 1, 2026 - June 30, 2027 The City Council will conduct a public hearing on the proposed Fiscal Year City property tax levy as follows: Meeting Date: 3/24/2026 Meeting Time: 06:30 PM Meeting Location: Asbury City Hall 5290 Grand Meadow Drive At the public hearing any resident or taxpayer may present objections to, or arguments in favor of the proposed tax levy. After the hearing of the proposed tax levy, the City Council will publish notice and hold a hearing on the proposed city budget. City Website (if available) City Telephone Number www.cityofasbury.com (563) 556-7106 Current Year Budget Year Budget Year Certified Effective Property Proposed Iowa Department of Management Property Tax Tax Property Tax 2025 - 2026 2026 - 2027 2026 - 2027 Taxable Valuations for Non-Debt Service 289,237,697 304,530,050 304,530,050 Consolidated General Fund 2,182,634 2,182,634 2,252,971 Operation & Maintenance of Public Transit 0 0 0 Aviation Authority 0 0 0 Liability, Property & Self Insurance 0 0 0 Support of Local Emergency Mgmt. Comm. 0 0 0 Unified Law Enforcement 0 0 0 Police & Fire Retirement 0 0 0 FICA & IPERS (If at General Fund Limit) 0 0 0 Other Employee Benefits 55,062 55,062 57,322 Capital Projects (Capital Improv. Reserve) 0 0 0 Taxable Value for Debt Service 356,528,458 383,601,284 383,601,284 Debt Service 360,472 360,472 281,859 CITY REGULAR TOTAL PROPERTY TAX 2,598,168 2,598,168 2,592,152 CITY REGULAR TAX RATE 8.74759 8.28773 8.32119 Taxable Value for City Ag Land 558,860 512,740 512,740 Ag Land 1,628 1,628 1,541 CITY AG LAND TAX RATE 2.91307 3.17510 3.00375 Tax Rate Comparison-Current VS. Proposed Residential property with an Current Year Budget Year Percent Actual/Assessed Valuation of $100,000/$110,000 Certified Proposed Change 2025/2026 2026/2027 City Regular Residential 415 408 -1.69 Current Year Budget Year Commercial property with an Certified Proposed Percent Actual/Assessed Valuation of $300,000/$330,000 2025/2026 2026/2027 Change City Regular Commercial 1,803 1,904 5.60 Note: Actual/Assessed Valuation is multiplied by a Rollback Percentage to get to the Taxable Valuation to calculate Property Taxes. Residential and commercial properties have the same rollback percentage through $150,000 of actual/assessed valuation. Reasons for tax increase if proposed exceeds the current: The City continue to provide services to its residents in an affordable manner. The average residential property owner pays approximately $108 per month for city services that include police and fire protection, parks and trails, street maintenance services. Page 3 of 3