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Park City finance report: valuation rise, mixed sales-tax months and limits of gas-tax revenue
Summary
City finance staff reported a rise in assessed valuation and higher year‑to‑date collections overall but flagged volatile monthly sales‑tax receipts and noted gas‑tax revenue falls well short of street maintenance needs; staff offered to provide further verification on assessed valuation capture and banking rates.
City finance staff on April 28 told Park City Council that assessed valuation has increased and that year‑to‑date tax collections have risen even as the city reduced its mill levy. The report, delivered by staff member Sean, cited an increase in assessed valuation from about $145.2 million to $166.8 million and year‑to‑date collections for 2026 up roughly 15.3% compared with the same period in 2025.
Sean walked council through the tax distribution and sales‑tax reports, noting that January and February 2026…
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