Tax revenues for the city of Marshalltown and Marshall County both improved anywhere from 48 to 50 percent over the last 10 years, but household and per capita income did not keep up at nearly the same pace.
In the city of Marshalltown, property tax revenue increased from $6.15 million in fiscal year 2001 to $9.28 million in 2010. That represents a nearly 50 percent increase in revenue from that one source alone.
The numbers are similar for the entire tax rate across the board, according to Marshall County Treasurer Deane Adams, who said the county has had an increase of 48 percent in the past 10 years.
"That's the increase we are collecting countywide, for schools, cities and everything over the last 10 years," he said.
Though some may tend to blame politicians for such increases, many have worked to keep their levy rates down over time.
For example, the city of Marshalltown is planning to levy $13.93 per $1,000 in taxable valuation over the next fiscal year. Ten years ago, the levy rate was $12.60.
That represents an increase of approximately 10 percent over 10 years, or an average increase in the levy rate of 1 percent annually.
However, property valuations have also increased. In 2000, the total valuation for property in Marshalltown was approximately $525 million, which only included non-exempt property. In 2008, that number was approximately $727 million. That's an increase of slightly less than 40 percent.
Some of that is due to increases in assessments by the county assessor's office. Other growth in that area is attributed to improvements on property, such as new construction.
Exactly how much is attributable to each factor is difficult.
"During that time, I'm sure there's been some change to the tax base," said Marshalltown City Administrator Dick Hierstein. "There are a lot of factors that go into that."
Over the same time period, the per capita income in Marshalltown has increased 17 percent in dollars not adjusted for inflation. According to the U.S. Census Office, Marshalltown's per capita income in 1999 was $19,176. In 2008, it was $22,487, an increase of approximately 17 percent.
Household income followed a similar pattern. In 1999, that income was $38,268 and increased 18.5 percent by 2008 to $45,382.
However, when put into 1999 dollars, the figures actually showed that people in Marshall County had less to spend.
Per capita income in 1999 dollars was $17,400 when compared to the benchmark year, a decrease of approximately 10 percent versus 10 years ago. Household income using the same benchmark was $35,116, which represented approximately an 8-percent decrease.
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Contact Ken Black at 641-753-6611 or kblack@timesrepublican.com