Ankeny looking for ways to close debt service gap
Wednesday, June 13, 2012 10:44 AM
The Ankeny City Council created an ad hoc committee during its meeting on Monday evening to address the best way the city can generate more revenue to close its debt service gap.
The city had previously planned to levy a property tax increase of 85 cents per thousand dollars of taxable value, which goes into effect July 1, then a second increase of 70 cents in 2015.
Ankeny Mayor Steve Van Oort said in a release that the council would like to get eliminate the 70 cent increase, which is what the ad hoc committee will attempt to do by considering options such as new non-tax revenue, tax revenue generated by valuation growth, buying down debt and reduction in city costs.