FY 2027 Budget and Local Option Sales Tax
Summary
The city is planning its FY27 budget around the new local option sales tax, expected to bring in about $2.8 million in year one. The plan sends 90% to paying off the ~$18 million fire station in about seven years, which staff says saves a typical $300,000 homeowner roughly $1,700 over the loan life. The FY27 property tax rate would be $11.84 per $1,000 — up 15 cents, mostly from city hall debt, though the residential rollback means most homeowners still pay less.
At a glance
- Total mentions
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- Last 30 days
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Last discussed Jan 27, 2026.
Impact analysis
$2.8M projected first-year sales tax revenue; FY27 rate of $11.84 per $1,000 means a $300,000 home pays about $82 less next year thanks to the rollback.
Homeowners see property tax relief; the fire department gets a funded new station.
Commercial property owners will pay modestly more — about $6 more for a $500,000 business.
Mentions & discussions (3)
Prepping for local option sales tax
Prepping for local option sales tax KCRG
Prepare Your Business to Collect LOST on July 1
Prepare Your Business to Collect LOST on July 1 northlibertyiowa.gov
City Council - Jan 27, 2026
The city is planning its FY27 budget around the new local option sales tax, expected to bring in about $2.8 million in year one. The plan sends 90% to paying off the ~$18 million fire station in about seven years, which staff says saves a typical $300,000 homeowner roughly $1,700 over the loan life. The FY27 property tax rate would be $11.84 per $1,000 — up 15 cents, mostly from city hall debt, though the residential rollback means most homeowners still pay less.
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