Truth In Taxation
Public Hearing Presentation
Truth In Taxation
Utah’s 1985 Truth in Taxation law brings transparency to the area of property taxes. This law makes property tax revenue-driven, not rate-driven. This means, all else remaining equal, when property values rise… property tax rates fall proportionally.
When a taxing entity (city, county, school district, water district, etc.) proposes to increase its property tax revenues above what was budgeted the previous year, the Truth in Taxation law requires a public hearing and public notice. The truth in taxation hearing, when the public may offer formal comment, was held on Tuesday, August 2nd at 6 p.m. in City Council chambers.
A Truth in Taxation hearing allows tax entities to lay out their reasoning to the taxpayers for the proposed increase and allows the citizens to comment on the proposed increase.
The City Council held an OPEN HOUSE event/Work Session on July 12, 2022 at 6:30PM to discuss Truth In Taxation. No formal action was taken at Tuesday’s meeting.
The City Council passed the FY 2022/2023 Budget and Certified Tax Rate as presented, at the City Council meeting on August 16, 2022. This final action completes the Truth In Taxation process.
The Harrisville City Council is considering an increase to balance the necessary and expected services with the appropriate staff and resources to provide those services.
Harrisville City has experienced a number of changes throughout the years in growth, employee attrition, and development. The certified tax rate has substantially declined for the 2021 fiscal year, lower than the rate prior to the 2013 increase. This decline has caused a gap in the budget that has been difficult to balance and manage. Now with nine proposed developments and a significant increase in households, both single family and mixed-use developments, there is need for additional staffing and resources to maintain services through public safety, utilities, facilities, road maintenance and repair.