IWCC proposes cutting its property tax rate
March 10th, 2015 by Ric Hanson
The Board of Directors at Iowa Western Community College has proposed cutting its property tax rate by 1.5 cents. According to the Daily NonPareil, a preliminary budget approved at the Board’s meeting Monday in Harlan, does include a tuition increase of $11 per credit hour to balance the budget. The budget is expected to grow by about 8 percent overall. Iowa Western’s proposed levy is $1.14061 per $1,000 in taxable valuation for next year, which represents a levy decrease of about 1.3 percent in property taxes to support the community college.
Board members discussed their expectation that the Iowa Legislature will not set state aid for community colleges until next month, which is one of the reasons – along with expected changes to enrollment figures – the budget remains preliminary. It is designed to represent the spending limit for the college, not necessarily how much it will actually spend next fiscal year. Tom Johnson, the outgoing vice president of finance and operations, said the college’s spending for its general fund would be capped at about $50.35 million for next year, based on the published budget estimate.
The board, which met this month at the Shelby County Center in Harlan, gave its approval following a public hearing without any testimony. Iowa Western will file the budget with the Iowa Department of Education and the Iowa Department of Management, which requires a budget to be filed by next Monday.