Payson Common Council approves property tax levy for fiscal year 2025-2026

Payson Town Council convened on July 9, 2025, for a special meeting focused on the public hearing regarding the property tax levy for the fiscal year 2025-2026. The council unanimously approved Ordinance 9-71, which sets the property tax rate at 0.2855 per $100 of assessed value, a decrease from the previous rate of 0.2992.

Finance Director Dana Ohanesian presented the details, highlighting that the total assessed value for the town has risen to $252 million, up from $240 million the previous year. This increase in assessed value will allow the town to collect approximately $720,000 in property taxes, which is about $3,000 more than the previous year, despite the lower tax rate. Ohanesian explained that the rise in revenue is attributed to both new construction and the appreciation of property values.

The council's decision to set the levy at the maximum rate without requiring a truth in taxation notice reflects a strategic approach to budgeting, ensuring adequate funding for municipal expenditures while still providing a slight reduction in the tax rate for residents. The meeting concluded with a unanimous vote in favor of the ordinance, marking a significant step in the town's financial planning for the upcoming fiscal year.