Information about 2009 LOST Special Election
In 2009, Cedar Rapids voters approved a 1% local option sales and service tax (LOST) through June 30, 2014. The revenue projection for this five year and three month tax is estimated to be more than $78 million.
Revenues from the tax are being allocated as follows:
- 90% has been used for the acquisition and rehabilitation of flood-damaged housing caused by the historic Flood of 2008, and matching funds for federal dollars to assist with flood recovery or flood protection
- 10% has been used for property tax relief
How LOST Revenues are Invested
As of February 13, 2012 the City has invested $42.2 million into 16 acquisition, rehabilitation and flood recovery programs. Most of the funding was distributed through the Personal Possessions Replacement Program for homeowners and renters. To date, $4.86 million has been spent on property tax relief.
Click here for election information from Linn County Election Services.