(Atlantic) Atlantic City Administrator John Lund is concerned about what may come down with all the changes in Iowa’s Property Tax system.
Lund says Iowa’s property tax system up until 2013 was stable. He says in 2013, the State Legislature passed major legislation changing numerous classifications applying a partial rollback of commercial property that was not their revenue, backfilled it, and then phased it out over time with fewer properties becoming taxable.
Lund is letting the City Council and the Department heads know it will not be his fault if the City ends up with an ugly budget situation down the road. Lund says he gives himself an A-plus regarding long-term budget planning.
Lund says if the state does not refill the business property tax credits, there will be massive cuts to school districts, counties, and cities.
Lund says his goal is to reduce the debt service levy, but the state changing the tax system will make things extremely difficult.
