The Sioux City Council will consider a resolution at next Monday’s meeting that will oppose House Bill 773, which would establish budget limitations for counties and cities. City manager Bob Padmore said at a news conference this morning, that the measure would limit the city’s property tax growth to two percent annually.
“It’s called a soft cap, which means the council could vote to override it, but then it would be subject to a vote from the people if they choose to override that two percent increase to their budget.”
Padmore says the two-percent increase would have to cover things like the fire department and police department, which use most of the city’s property tax dollars
“But other things that use property tax dollars are the ambulance service, our transit system, public recreation, libraries, the art center, and the public museum.”
The city council will take up the resolution opposing HB 773 at the end of Monday afternoon’s meeting. The House is expected to take up the measure for debate sometime next week.
Nebraska state government collected more taxes than expected in March.
The state Department of Revenue reported Friday that net receipts for the month totaled $344 million, which is 3.5 percent higher than the projected amount of $332 million.
The bump came from higher-than-expected individual income taxes and net corporate income taxes. Net sales-and-use taxes and miscellaneous taxes were lower than projected.
Net tax collections for the current fiscal year are slightly above projections.