Iowa cities turn to franchise fees to raise money
BPC Staff Feb 26, 2016 | 9:12 pm
<1 min read time
92 wordsAll Latest News, Energy, Government Policy and LawCities around Iowa, including Cedar Rapids, are asking residents to pay more in fees found on natural gas and electric bills as a way of raising money to offset losses from the state’s historic property tax reform, the Cedar Rapids Gazette reported. Cedar Rapids is proposing a 50 percent hike in its franchise fee for both gas and electric bills. For an average electric bill of about $100, for instance, the 1 percentage point increase — from 2 to 3 percent — translates to an extra $1.07, according to Alliant Energy Corp.
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