The Park City School District Board of Education is holding a Truth in Taxation Hearing Tuesday to get input on a $5 million tax increase for this school year. If approved, it would be the fourth school tax increase since 2013.
For the hearing, Park City School District Business Administrator Todd Hauber will provide an overview of how to read this year’s property tax notice. But the primary purpose of the hearing is to receive public input on the $5.2 million tax increase proposed to cover salary increases. Those increases were put in place two years ago. Last year, the school board approved a $5.6 million tax increase through the local board levy.
“It’s the third year of our three-year contract that we’re financing with this final tax proposal this year. There is a tax increase. The increase is about $5 million. And that’s the purpose of the hearing to talk about those dollars being raised."
Hauber says a primary home valued at $725,000 will see about a $115 increase annually due to the board local levy. At the meeting, he’ll talk about two other levies that are decreasing, which will result in a net impact of about $60 annually per $725,000 home valuation.
“That calculation is unique in the sense that it only catches the levies that are changing upward because of board action. The board local levy is driving that increase.”Second homes and businesses with the same value of $725,000 will see a local board levy of approximately $100 per year.
Hauber says they’ll also provide a short budget presentation, and he encourages those interested to look at the budget on the school website.
The school district will get an infusion of about $2 million in additional revenue this year due to new growth and the legislature increasing the value of the weighted pupil unit.
The Truth in Taxation Hearing is Tuesday, August 20th at 6 P.M. at the district offices on Kearns Boulevard. Park City School District budget expenditures are projected to be a little shy of $82 million. A link to the 2020 fiscal year budget can be found on KPCW.org.