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District outlines preliminary 2025 property tax rate; recommends no change to certified rate
Summary
District finance staff presented preliminary property tax calculations showing a calculated rate of 0.004139 for 2025, an estimated 4.8% increase in assessed values and noted a major state change: the basic school levy will be routed through the state beginning 2025.
Salt Lake City School District finance staff presented preliminary property tax rates and a timeline for the budget process, recommending no change to the district’s certified tax rate for the 2025 tax year.
Alan (Kearsley) told the board staff is estimating a 4.8% increase in assessed valuation for the 2025 tax year. Using the district’s calculation, the 2025 calculated tax rate is 0.004139, an increase in the rate per the slide deck compared with the prior year but — because assessed values are rising — the district recommended no change to the certified tax rate this year.
Alan explained a major state policy change for 2025: beginning with the 2025 tax year, the state will deposit the basic school levy into the state general fund and then allocate the funding to local education agencies as state revenue rather than sending property‑tax receipts directly to districts. Alan said the district will show the basic levy as a “taxes pass-through” fund entry (net zero) on district books while the general fund receives the corresponding state revenue allocation.
The presentation included examples of homeowner impact and business tax treatment: homeowners receive a 45% homeowner exemption on assessed value before the rate is applied, and the district showed an example of $227.65 per $100,000 of assessed value (district example). Businesses do not receive the 45% exemption and are taxed on 100% of assessed value.
Alan reviewed next steps in the budget calendar: an April 15 review of capital projects and debt service; small-group budget meetings for board members; a May 6 executive summary; a May 20 final budget review; and an anticipated June 3 board approval of the revised current-year budget, the original budget for next year and the tax rate — subject to final assessed-value reporting by the Utah State Tax Commission.
Board members asked clarifying questions about the timing of calendar approvals and parent notification for asynchronous testing days; staff said schools had already included those testing days in school calendars distributed to parents and the board would align future annual calendars to avoid one‑off approvals.
No formal tax-rate action was taken at the meeting; staff sought guidance and will return with final figures after the state reports assessed values in June.
