Agenda Item Title:
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Sandy City is proposing to increase its property tax revenue and adopt its final budget. All concerned citizens are invited to a public hearing on the proposed tax increase. (No earlier than 6:00PM)
If the proposed budget is approved, Sandy City would increase its property tax budgeted revenue by 14.87% above last year's property tax budgeted revenue excluding eligible new growth. The Sandy City tax on a $628,000 residence would increase from $317.77 to $365.09, which is $47.32 per year. The Sandy City tax on a $628,000 business would increase from $577.76 to $663.80, which is $86.04 per year.
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Presenter:
Brian Kelley, Administrative Services Director
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Description/Background:
A presentation on the proposed tax rate increase is included with this agenda item.
All concerned citizens are invited to a public hearing on the tax increase.
To obtain more information regarding the tax increase, citizens may contact Sandy City or visit https://sandy.utah.gov/210/Budget-Information.
Alta Canyon Recreation District is a separate taxing entity from Sandy City thus a separate budget adoption resolution for the Alta Canyon Sports Center budget is included.
Fiscal Impact:
Adoption of Resolution 23-41C would result in approximately $1.8 million increase to the General Fund in order to fund the items included in the attachment to the resolution.
Adoption of Resolution 23-42C would result in no changes to the certified taxing rate for the Alta Canyon Recreation District.
Recommended Action and/or Suggested Motion:
Recommendation
Motion to adopt Resolution 23-41C
Motion to adopt Resolution 23-42C