The state and federal governments are paying the rest of the bills, about 15 million dollars.
Council Bluffs officials say the Missouri River flooding last year will cost the city about $4.5 million.
Finance director Art Hill says the city's total estimated cost for dealing with the 2011 flooding is expected to be $19.4 million.
The city's portion includes its required 15 percent share of costs eligible for federal assistance, as well as $1.9 million in costs that were not eligible for assistance. The state and federal governments are paying the rest of the bills.
The costs include infrastructure repairs, debris removal and the purchase and demolition of structures damaged by high water.
Hill says Council Bluffs won't have to raise taxes to pay flood bills, because the money will come from what he says is the city's healthy general fund.