Des Moines raising property tax rate 20 cents
DES MOINES, Iowa (AP) — Des Moines is raising the city’s property tax rate 20 cents, following county voters’ rejection of a 1-cent sales tax rate increase.
The Des Moines Register reports that the $738 million budget for the next fiscal year also approved Thursday does not call for any immediate staff reductions, but it halts new hiring and any work on projects that don’t have a clear source of funding. The budget takes effect July 1. Des Moines prepared two budgets before Tuesday’s sales tax vote: one anticipating an estimated $37 million in revenue from the proposed sales tax hike and one without.
A majority of voters in Des Moines backed the increase, but the measure didn’t have enough votes in the suburbs to pass.
Information from: The Des Moines Register, http://www.desmoinesregister.com