Northeast Iowa Community College officials plan to set the college’s tax rate for the coming fiscal year higher than initially proposed. At a Board of Trustees meeting this week, NICC finance officials discussed proposed changes to the fiscal year 2027 budget, including a new proposed tax rate of about $1.04 per $1,000 of taxable valuation for residents of NICC’s service area. Officials had initially shared plans to set the fiscal year 2027 tax rate at 97 cents per $1,000. The college’s current tax rate is about 94 cents per $1,000. Vice president of finance and administration, Lexi Wagner, says the change was prompted by bills making their way through the Iowa Legislature that would cap allowable property tax revenue growth for community colleges at 2% beginning in the 2028 fiscal year. According to Wagner, college officials have deemed the increase necessary to “set a sustainable base” for the college before growth caps are implemented. Wagner added that if the property tax bills do not ultimately pass this year, NICC officials can lower the levy rate next year.
