IOLA, Kan. — The Iola City Council will conduct 2026 budget and revenue neutral rate hearings as part of Monday evening’s meeting at 6 at the Riverside Park Community Building.
The proposed budget calls for about a seven tenths of a mill increase in the property tax levy, with the proposed levy to be just over four mills higher than the Revenue Neutral Rate that would raise the same amount of property tax dollars as for 2025.
The proposed levy will raise an additional just over $162,000 for the city. There are three components to the city levy, and the increase in tax rates is attributed to the Library fund. The General and Industrial Funds combined levy would be identical to that for 2025.
The General Fund accounts for just over $10.5 million of the overall budget of just over $35.7 million, the balance coming from utility operations and other items funded through other sources including a little over seven million dollars in transfers. The overall budget also includes reserve funds of the city.
