Vinton property tax increase to cover cost of $2M street repair project

Thursday night, the Vinton City Council held its last budget workshop to put the finishing touches on the city’s annual budget for the city’s fiscal year that begins July 1, 2013 and ends June 30, 2014.

There are two major changes that will affect city property owners. First, we currently receive very low interest rates for general obligations bonds, which is money borrowed by the city for certain projects. The last bond issue was last year for improvements on West 13th Street. The city received an interest rate of 1.68 percent. Our financial consultants believe that we would still receive a similar interest rate.

The City Council has decided that this is the ideal time to borrow money for street improvements around the city. While the specific street improvements need to be finalized and prioritized, the council has decided to borrow $2 million for these street improvements. The annual payments for this loan are approximately $220,000. To make this payment, the city will need to increase the debt service levy resulting in the overall levy rate for the city to increase from $14.64 to $16.15.

The rise in the levy rate means that an owner of a house assessed at $100,000 will see an increase in property taxes to the city of $110. The owner of a commercial business assessed at $200,000 will see an increase of $302 in property taxes to the city.

Garbage fee increase expected

Second, as you may have heard, the county is raising the landfill charge to the cities from $25 per capita to $32 per capita. This is raising Vinton’s fee to maintain and use the landfill by $36,800. This means that the landfill fee on your monthly utility bill will likely increase by $1.50 per month.

Comments welcome

The city welcomes all comments verbal and written on the city’s FY 2014 budget. We are anticipating a public hearing on the budget around the beginning of March. You may attend an earlier meeting, held the 2nd and 4th Thursday at 7:00 PM to express views during the citizen’s input section. You may also submit comments in writing to me at City of Vinton, PO Box 529, Vinton, IA 52349 or at alent@vintoniowa.net.

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BT February 12, 2013, 1:02 pm Wise decision!! If I had one complaint about the City of Vinton, it is their STREETS AND SIDEWALKS! PLEASE, do not forget to get ALL sidewalks added to all streets AND make them ALL HANDICAP CODED.

MD February 12, 2013, 3:28 pm If the improvements are made , will the property owners who\'s property is next to the improvements be assessed more ,or this a general across the board assessment to all property owners? Could the City please verify?

JZ February 12, 2013, 3:56 pm good decision indeed. Keep us all walking, as much as possible. and better streets are a big seller for our community, keep it looking nice.

MS February 12, 2013, 5:02 pm Correct me if I am wrong but are the sidewalks not the responsibility of the property owner?? Maybe Andy could clear that up - there is no question that our streets are in need of some serious repair - but I think that Rick and the entire street crew do the best they can without getting crazy with expense - our last few winters have also been especially hard on the roads..kudos to Rick and crew for all of the work you do!!!

AL February 13, 2013, 7:20 am There is no current plan to assess adjoining property owners. This would add to the cost as the engineer would need to figure out the assessment. Most of the money will be spent on streets, although some sidewalk improvements will be made. Federal regulations require sidewalk ramps when the streets are reconstructed, so the ramps will be done.

KVS February 13, 2013, 1:30 pm Fixing our streets and enhancing handicapped accessibility improve the quality of life here for all citizens and visitors. Good plan! Thanks,city council, Andy, and street crews for your hard work all year long and for your careful planning!

AW February 13, 2013, 2:54 pm Are these tax increases for everyone with a Vinton address or only for people inside the city limits?
Editor\'s Note: They apply to Vinton property owners only.

SM February 13, 2013, 5:07 pm Geez, I can only imagine that the sidewalks at the Celebration Park will be lined with gold then?

DS February 14, 2013, 11:28 am First 0bama nails 77% of Americans with new taxes in 2013 which includes me. Then House Democrat Leader McCarthy says majority of middle class gets no tax relief from Iowa. Now Vinton wants to up our taxes even more. I\'m all for fixing the streets but the timing is horrible and I\'m Taxed Enough Already!

News : Vinton property tax increase to cover cost of $2M street repair project

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