Sioux City officials discuss increasing property taxes - KTIV News 4 Sioux City IA: News, Weather and Sports

Sioux City officials discuss increasing property taxes

SIOUX CITY, Iowa (KTIV)- Sioux City leaders met Tuesday to consider the 2015 budget for the first time.

Among their new ideas was a significant tax increase for every property owner in Sioux City.

Property taxes in Sioux City have decreased every year since 2010. Right now, the city has proposed a tax increase for property owners in Sioux City, unless some hefty cuts to the 2015 budget are made.

"Just to get to where a typical homeowner would not have to pay any additional taxes, we'd have to reduce about 2.7 million dollars. To get to where it'd be no tax increase at all in rate, it's about a four million dollar reduction," Bob Padmore, Interim City Manager said.

The suggested increase is at $1.19 to a total of $17.44; that is, for every thousand dollars your property is worth. 
Interim City Manager Bob Padmore says a big part of the sudden need for more funds is the city's potential loss of red light and speeding camera tickets.

"We've used red light camera money and speed camera money for public safety projects, and to reduce our task askings or our tax rate. With the
proposed legislation to remove our ability to use speed and red light camera monies, we've had to reduce that from our budget," Padmore said.

However, tax experts in Sioux City say there's no reason to panic about money just yet.

"The city council, along with city staff, will make determinations to either find more revenue services that aren't property taxes, or they'll actually cut things that cost property taxes. So I'm highly skeptical that the full tax increase will actually happen," James Van Bruggen, Executive Director of Taxpayer's Research Council said.

While the budget is considered over the next two months, James Van Bruggen says it's your opportunity to have a say in the tax rates you'll pay.
"What Sioux City taxpayers need to do is contact their elected officials and let them know, what services you're willing to pay for, what services you don't want," Van Bruggen said.
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