Homeowners will be taxed less than last year
As the Park City School Board prepares to vote on a new property tax rate School District Business Administrator Patty Murphy says the rate is actually lower than that of fiscal year 2005-’06.
According to a notice published by the School District, with the new rate, a $430,000 residence will be taxed $1,232.64 by the district. Last year, a homeowner with property of the same value paid closer to $1,299, Murphy said.
The notice goes on to explain if the district taxed at the certified tax rate, which is determined by the state, the tax on a $430,000 residence would be $1,134.96.
Because of growth in the area, even with the new, lower rate, Murphy said, the district is still able to increase its revenue.
In early June the board reported a $2 million deficiency in the proposed 2006-’07 budget. The new tax rate would address the shortfall, compensate for inflation and higher enrollment, Murphy said.
Also a problem, she said, are federal cuts to the No Child Left Behind program which includes money that goes to support low-income students.
"Either those programs need to be cut, or the funds need to be found elsewhere," she said.
Murphy added the board is making the right decision in raising the tax rate over the certified rate, something she said the district has consistently done for years.
A truth in taxation hearing to take input about the proposed taxes will be held on Aug. 15 at 6 p.m. at the Park City School District Office on 2700 Kearns Blvd.
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City Hall in December posted strong sales-tax numbers, powering past projections and nearly equaling the figure from the same month in the previous year, as Park City continued to beat expectations amid the continued spread of the novel coronavirus.