Polk County Approves FY 22/23 Budget, Authorizes Decrease in Tax Levy for Homeowners

DES MOINES, Iowa – Polk County Board of Supervisors on Tuesday approved the fiscal year 2022/23 budget. The $317 Million dollar budget includes relief for Polk County homeowners in the form of a decrease in the property tax levy.

The Board of Supervisors unanimously approved the 5% reduction in property taxes. The new levy rate is as follows:

• Urban residents: $6.77 per $1,000 in taxable valuation (previously $7.13).
• Rural residents: $11.32 per $1,000 in taxable valuation (previously $11.68).

Multiple factors enabled the Board of Supervisors to lower the tax levy by $0.36 in the upcoming fiscal year. Chief among those reasons are good stewardship of fiscal management, which led to a decrease in the debt service levy for existing bonds. Additionally, the State of Iowa took over funding for mental health services, which also contributed to the decreased levy rate.

Polk County Board of Supervisor Chair Angela Connolly says of the lower tax rate, “This is extremely welcome news that we were able to bring financial relief to residents in Polk County. So many have struggled the past two years because of COVID. Now, rising inflation has taken an additional toll on everyone. Our lower income residents have especially been hit hard. I am proud that because of strong fiscal management we are able to help lower the cost of living in Polk County.”

Homeowners will start to see the revised levy when the new budget goes into effect July 1, 2022.