Metro Brief

BY DI STAFF | FEBRUARY 25, 2009 7:39 AM

Coralville city tax to stay the same

City tax rates for Coralville residents will not increase after the City Council approved its fiscal 2010 budget at its Tuesday meeting.

Finance officer Terry Kaeding said the tax rate for Coralville citizens — determined by the city — will remain $13.42 per $1,000 of property value.

Rex Brandstatter, an Iowa City and Coralville real-estate agent, said he was impressed with the decision.

“I think [it’s] rather amazing considering everything the city has been through in the past year,” he said. “We had more than we bargained for.”

State property taxes based on assessed values will increase by $20.16 for an $100,000 home. While residential property owners paid 44 percent of their assessed value for fiscal 2009, they will pay 45.6 percent in fiscal 2010.

The council also approved the ballot for the local-option sales tax, stressing the money will go solely to flood-reconstruction efforts.

“We certainly don’t want it to be an ongoing forever tax, but we certainly want the bang for our buck,” Councilor John Weihe said.

— by Kassie Friedrichs

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