budgetchart    The combination of increased property values and austere budgeting practices will result in a lower tax rate for the city services portion of La Porte City property owners’ tax bills next year. With taxable property values in La Porte City increasing over three million dollars to approximately $60.5 million, the City of La Porte City reduced its property tax levy by 4.47% for the 2015 fiscal year (FY) budget. The reduced property tax rate will result in a total of $912,448 levied by the City in property taxes next year, an increase of $370 from FY 2014.
Property taxes account for approximately 25% of the $3.7 million the City expects to spend in FY 2015. The remaining 75% of the City’s revenue comes from sources such as the local sales option tax, fees for services and intergovernmental revenue.