FY27 Budget Work Session 4-6-26

The City of Waterloo held a FY27 Budget Work Session on April 6, 2026, focusing primarily on the proposed budget and levy rates for the upcoming fiscal year. The finance director presented details on the levy rate, highlighting a 6% decrease in property taxes due to a state rollback, resulting in an estimated $63 annual tax reduction for a $100,000 home. The general fund budget showed a net zero increase with revenues and expenses both rising by approximately 2.28%. Capital projects totaling about $71 million were outlined, including streets, bridges, fiber backbone, parks, and airport improvements. Other funds such as sewer, stormwater, sanitation, and federal housing were also discussed with respective budget changes. The council discussed the use of local option sales tax for property tax relief and constraints on using certain funds for debt service. The session concluded with encouragement for council members to review the budget in detail before certification, emphasizing the goal of reducing the tax burden on residents.