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.
Information about 2012 LOST Special Election
The Cedar Rapids City Council has requested a special election to be held on March 6, 2012 on an extension of the local option sales and services tax (LOST).
On the ballot, voters will be asked to “authorize extension of a local sales and services tax in the city of Cedar Rapids at the rate of one percent (1%) to be effective from July 1, 2014, until June 30, 2024.”
All revenues from the tax will be allocated to establish and maintain a flood protection system on both the east and west sides of the Cedar River.
Click here for election information from Linn County Election Services.