Sheldon, Iowa — Sheldon’s city budget season is underway, and during the process the City is looking at a couple of additional sources of revenue for future needs.
During Wednesday’s Budget Workshop, a representative of MidAmerican Energy talked to the Council about the potential benefits of a franchise agreement with the utility. City Manager Sam Kooiker tells KIWA that the City isn’t necessarily headed toward a franchise agreement, but is definitely headed toward the discussion about entering into one.
Kooiker says a lot has to happen before the City can enter into such an agreement.
Also during the budget process, the Board of the Crossroads Pavilion Event Center had asked the Council to institute a property tax levy to generate funds for maintenance and equipment replacement at the event center. Kooiker drew a comparison to the old Sheldon City Indoor Pool in discussing the need for an event center levy.
He says the State of Iowa established a funding source in the form of a tax levy.
Kooiker says that, taking into account the state rollback numbers, a 13.5-cent per thousand levy would amount to an additional annual tax of $15.37 on a $200-thousand house in a residential area. In Multi-Residential areas, the levy would add $20.25 per year to a $200-thousand multi-family unit. In a Commercial zone it would add $24.30 to a commercial property assessed at $200-thousand, and in an Industrial area, taxes for a $200-thousand multi-family unit would be $24.30.
