Agenda Item Title:
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Sandy City considering approval of a resolution authorizing the Metropolitan Water District of Salt Lake and Sandy (MWDSLS) to increase its property tax for Fiscal Year 2025
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Presenter:
Wayne Winsor - Assistant General Manager/Chief Administrative Officer
John Kirkham - Board of Trustees, Vice-Chair
Don Milne - Board of Trustees
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Description/Background:
The Metropolitan Water District of Salt Lake & Sandy (MWDSLS) is a special district that provides drinking water to Salt Lake City and Sandy City. MWDSLS has identified escalating costs and capital needs for aging infrastructure projects within the system. In order to generate revenue sufficient for these capital needs their FY25 budget proposes an increase of the tax rate from .000216 to .00035 to generate revenue of $1,867,420. The District's last property tax rate increase was in 2008 which set the rate at .00035. Since 2008 the property tax rate has eroded as the values of property have increased. Currently the property tax rate is .000216. Consistent with current statute 17B-2a-608 increasing the certified tax rate requires approval by the legislative body of each municipality that appoints a member to the board of trustees. In this case both Salt Lake City and Sandy City appoint members to the Metro Water board of trustees.
On April 16, 2024, pursuant to Utah Code Annotated 17B-1-1003, the members appointed by Sandy City to the MWDSLS Board of Trustees reported on their proposed property tax increase to the Sandy City Council. The City Council held a public meeting where they allowed time for comment from members of the Council and members of the public on the property tax increase. The Council discussed the matter and began expressing their sentiment, ultimately continuing the public meeting to May 7, 2024 so that all seven members of the council could have the opportunity to express their sentiment and vote on the proposal.
Fiscal Impact:
The fiscal impact of thi...
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