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Tooele board weighs truth-in-taxation hearing after finance director projects multi‑million shortfall
Summary
Business Administrator Lark Reynolds told the Tooele Board on May 20 that a county valuation adjustment will reduce projected local property tax revenue by about $2.78 million for fiscal 2026 and — combined with rising expenses — could produce a multi‑million‑dollar shortfall across district funds.
Tooele County School District Business Administrator Lark Reynolds briefed the board on May 20 about a county valuation adjustment and its effect on district property tax revenue, saying the adjustment will reduce projected tax collections by about $2.78 million in fiscal 2026 and that, combined with spending increases, could leave the district roughly $7 million short across all funds.
"The bottom line is that we will just have less in property tax revenue next year because of the county adjustment," Lark Reynolds said, presenting the district's estimates and a timeline for the property-tax calendar. He told the board the county aims to certify…
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