Tax Cuts in Waterloo

Property taxes in Waterloo will drop by 15-cents, but it took hours for city leaders to come to that decision.

Monday night the City Council voted 4-3 to approve their next budget

The budget goes into effect July 1st and lowers property taxes from the current $17.76 rate to about $17.61 per $1,000 of taxable value.

The rate cut comes without major cuts to the city.

But cuts still exist. Two vacant firefighter positions will be eliminated from the budget.