Iowa City could extend tax for downtown businesses another decade

Iowa City could extend tax for downtown businesses another decade

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BPC Staff | Nov 11, 2015 | 8:36 pm |

<1 min read time

Iowa City councilors consider returning tax to benefit downtown businesses

The Iowa City Council has given the first nod of approval to re-establish and eventually increase the Self-Supported Municipal Improvement District tax for another 10 years, the Cedar Rapids Gazette reported. The tax provides revenue for the Iowa City Downtown District to use for events, marketing and special projects.

It was first approved four years ago and imposes a levy rate of $2 per $1,000 taxable value of properties within the district, excluding residential and tax-exempt properties.