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Payson holds first public hearing on property tax levy; rate set below truth-in-taxation threshold
Summary
At a June 25 public hearing the town presented a proposed property tax levy rate of 0.2855 per $100 assessed valuation, estimated to raise about $720,000; a second public hearing and adoption are scheduled for July 9.
The Town of Payson held the first public hearing on June 25 for its proposed property tax levy for fiscal year 2025-26, with staff presenting a levy worksheet that set the maximum rate without triggering a truth-in-taxation hearing at 0.2855 per $100 of assessed value.
Finance Director Dana Hanesian told the council the rate at 0.2855 would generate an estimated $720,000 in property tax revenue for the town, roughly $3,000 more than the prior year even though the rate itself is lower than the 2024-25 rate of 0.2992. Hanesian described the worksheet provided by the county assessor as the basis for the levy calculation.
Why it matters: the property tax levy funds general municipal expenditures not covered by other revenue sources and must meet state noticing and adoption timelines. Councilmembers and members of the public asked clarifying questions about how the levy relates to assessed value and what triggers a truth-in-taxation hearing.
Details and next steps: - Staff described the worksheet used to calculate the maximum allowable rate and said the second public hearing on the levy is scheduled for July 9, at which point the council would consider adopting Ordinance No. 971. - Dana Hanesian: "That rate was 0.2855 per 100 assessed valuation. The property tax levy amount for 2025-26 is estimated at that rate to generate about $720,000." (quote paraphrased from presentation data) - Public comment included calls both for fiscal caution and for increased investment. Mike Quinn urged investment and said he was "looking forward to all the prosperity," while a resident asked clarifying questions about how assessed value affects individual bills.
No formal adoption or vote on the levy occurred at the June 25 hearing; staff said a second public hearing will be held July 9 where the council may adopt Ordinance No. 971.
