City posts truth-in-taxation notice, hires Zions Bank for parks impact-fee analysis

Washington Terrace staff on Tuesday read the required truth-in-taxation statement for a proposed property tax-rate increase and the council approved hiring Zions Bank to prepare an impact-fee facilities plan and written analysis for parks, trails and recreation.

Tom (staff) told the council the city is considering increasing its property tax rate from 0.001667 to 0.001799, which he said would generate about $98,100 in additional revenue and represents a 7.3% increase. "The tentative budget includes a proposed tax rate increase," Tom said, and added that the additional funds were intended to cover contractual increases for law enforcement services entered into with the Weber County Sheriff's Office.

Council also reviewed staff's statement of intent to prepare or update an impact-fee facilities plan and analysis in accordance with the Utah Impact Fee Act (Utah Code 11-36a), focusing first on parks and recreation. Tom explained that impact fees are charged to new development to cover the proportionate cost of capital improvements needed to serve growth.

On a related item, staff recommended contracting with Zions Bank (hourly, not-to-exceed $10,000) to perform the parks-and-recreation analysis. Council discussed cost-savings from in-house inventory work, the last city analysis (done in 2010), and the anticipated project schedule. One council member moved to approve the contract and a seconded motion carried; the council approved the Zions Bank agreement unanimously.

Next steps: staff will post the property tax impact schedule publicly, schedule the required public hearing on the proposed tax increase, and begin the impact-fee analysis with Zions Bank and in-house data collection.