Due to the 2024 flood and decrease in student enrollment, the City of Rock Valley and Storm Lake school district are considering raising their property taxes.
The Rock Valley City Council discussed increasing the property tax from $13.50 to $13.75 per $1,000 of taxable value.
Tom Van Maanen, City Administrator of Rock Valley, told Siouxland Public Media on Friday the reason for the increase is due to the city not receiving all the FEMA reimbursements for the 2024 flood damage.
Van Maanen added the city anticipates the increase to be a one-year adjustment, and that around this next year he expects all FEMA funds will have returned.
He mentioned that even though the tax is increasing, the city is expecting to also see a growth in revenue on account of the tax base’s growth such as houses and business.
Additionally, the Storm Lake school district held a special meeting Wednesday to discuss increasing their property tax levy from $17.94 to $19.34 per $1,000 taxable of valuation.
According to the public notice, the increase is due to decreased enrollment, special education deficit, and at-risk programs.
The Iowa Department of Education shows the district’s enrollment decreased by 44 students from the 2024-25 year to this year.
Due to the loss of the 44 students, the district will see state funding drop by about $358,000.
Both tax increases are expected to offset the losses Rock Valley and the Storm Lake school district are experiencing.
