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Santaquin leaders consider holding tax rate; officials say stability would raise $164,000 for recurring costs
Summary
City staff proposed keeping Santaquin’s property tax rate at 0.001409, which officials said would leave the rate unchanged but raise about 7.8% in revenue (roughly $164,000) because of higher property values; council members discussed using the money for staffing and library support and scheduled a Truth in Taxation hearing for Aug. 7.
At a Santaquin City Council work session Tuesday evening, staff outlined a plan to hold the city’s property tax rate at 0.001409 for the coming year — a move they said would keep the rate the same but net an estimated 7.8% revenue increase because of rising property values.
Norm (staff member) told council members the proposed hold would raise about $164,000 and estimated the change would cost the average homeowner about $2.26 per month (about $29 a year). "What's being considered as being holding the rate at a 0.001409 rate... the value to the average home would be $2.26 per month," Norm said.
City officials said the additional revenue would be earmarked for ongoing costs, not one-time projects. Council members discussed allocating the…
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