By: Matt Scher, matts@977thebolt.com
Humboldt, IA – The City of Humboldt has announced a proposed property tax increase for the upcoming fiscal year.
Humboldt City Administrator Cole Bockelmann says the Iowa property tax system is broken down into three components that are independent from each other.
Boeckelmann says the three components come together to affect your property tax bill.
The cities’ total tax levy rate is expected to be just under $16 per $1,000 of assessed valuation. The increase 10 cents per $1,000 from the current year tax levy. The tax is not a significant change, as it will be a less than $12 increase in city taxes on a home valued at $250,000.