State property tax reforms leave Bettendorf more than $3 million short of its normal revenue
There has been a lot of sunshine and roses for the Bettendorf economy compared to the other Quad Cities, with a lot of new development in housing as well as commercial investment like the tremendously successful TBK Bank Sports Complex.
But all is not perfect.
Mayor Bob Gallagher expressed some caution during his State of the City address last month.
That’s because the city council will have to make a difficult choice in the next budget. Gallagher projects the city is going to lose more than $3 million in revenue it used to get from the state.
That’s after state lawmakers adopted new property tax legislation that reduced the calculation for home values and cut taxes overall.
That leaves the city in a position to raise its property tax rate to make up for that lost revenue while maintaining its services while Bettendorf keeps growing.
Host Jim Niedelman and Bettendorf Mayor Bob Gallagher discuss the state, and future, of the city.
“I think the city has done an awesome job of staying very conservative in our budgeting practices, maintaining healthy reserves,” Gallagher said. “But we do have some challenges.”
To hear more from Mayor Gallagher, click on the video.
Local 4 News, your local election headquarters, is proud to present 4 The Record, a weekly news and public affairs program focused on the issues important to you. It’s a program unlike any other here in the Quad Cities. Tune in each Sunday at 10:30 a.m. as Jim Niedelman brings you up to speed on what’s happening in the political arena, from Springfield, Des Moines, Washington, D.C. and right here at home.
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