Iowa Code 24.3 – Requirements of local budget
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A municipality shall not certify or levy in any fiscal year any tax on property subject to taxation unless and until the following estimates have been made, filed, and considered, as provided in this chapter:
1. The amount of income thereof for the several funds from sources other than taxation.
Terms Used In Iowa Code 24.3
- fiscal year: shall mean the period of twelve months beginning on July 1 and ending on the thirtieth day of June. See Iowa Code 24.2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Municipality: means a public body or corporation that has power to levy or certify a tax or sum of money to be collected by taxation, except a county, city, drainage district, township, or road district. See Iowa Code 24.2
- property: includes personal and real property. See Iowa Code 4.1
- tax: shall mean any general or special tax levied against persons, property, or business, for public purposes as provided by law, but shall not include any special assessment nor any tax certified or levied by township trustees. See Iowa Code 24.2
- year: means twelve consecutive months. See Iowa Code 4.1
2. The amount proposed to be raised by taxation.
3. The amount proposed to be expended in each and every fund and for each and every general purpose during the fiscal year next ensuing, which in the case of municipalities shall be the period of twelve months beginning on the first day of July of the current calendar year.
4. A comparison of such amounts so proposed to be expended with the amounts expended for like purposes for the two preceding years.