The Ankeny City Council approved its FY 2024 budget today. The approved budget maintains the city’s property tax levy rate at $9.90, the fourth-lowest rate in Polk County; just behind Sheldahl, Alleman and Mitchellville. The new budget will go into effect July 1, 2023.
The FY 2024 budget for Ankeny is comprised of operating expenditures of $129 million and capital improvement expenditures of $52 million. These expenditures amount to a total budget of just over $181 million. The FY 2024 budget supports the City Council’s goal to upgrade essential infrastructure while exercising financial discipline.
The $181 million budget maintains the property tax rate at $9.90 per $1,000 of taxable assessed valuation. Ankeny’s general fund levy of $6.20 per $1,000 of taxable assessed valuation remains the lowest of any sizable city in Polk County and is significantly below the $8.10 statutory cap.
"The Ankeny City Council approved a budget that maintains essential service levels despite a number of factors suppressing revenues and increasing the City’s costs. The passing of Senate File 181, recalculation of residential rollback, had a significant impact when planning the FY 2024 budget. Five unfilled full-time positions were eliminated and some additional cuts were made to address this new legislation," said City Manager David Jones. “The budget invests aggressively in capital improvement projects to support continued growth and reinvestment in existing infrastructure.”
The budget includes the addition of 9 new full-time equivalent employees and incorporates union contracts. The new positions for FY 2024 include: three firefighter/paramedics, a police officer, police sergeant, equipment operator, utilities supervisors for both water and wastewater and a fleet technician.
The budget focuses on improved maintenance and supports several large capital improvement projects including: Rally Complex (12 pickleball courts and two ballfields), NE Delaware Reconstruction, NW 18th Street Reconstruction, SW Oralabor Road and SW State Street Intersection Improvements, SW State Street Reconstruction, new NW Water Tower and High Trestle Trail Transmission Main.
The City’s FY 2024 budget includes an 8% increase in water usage rates and a 4% increase in service availability charges, effective April 1. Solid waste rates will increase 22 cents per month. Storm water utility rates will not change, but the maximum ERU for commercial, industrial and multi-family will increase from 70 ERU to 80 ERU. With all factors considered, an owner of $240,100 home will see an increase in costs of $44 annually, or a 1.9% increase for City services. A business owner with a property assessed at $851,500 can expect to see a decrease in costs of $441 for City services.
The City of Ankeny receives approximately 26 cents of each dollar paid in property taxes. There are eight other entities that collect revenue from those who pay property taxes in Ankeny. Following is the breakdown by percentage:
- 45% - Ankeny Community School District
- 26.13% - City of Ankeny
- 24.76% - Polk County
- 4.11% - Broadlawns Medical Center, DMACC, DART, Polk County Assessor, Polk County Ag Extension and State of Iowa
The Ankeny City Council held four meetings to discuss the FY 2024 budget, all of which were open to the public. More information about the FY 2024 budget can be found on the City of Ankeny website: https://www.ankenyiowa.gov/207/Budget.