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Midway Council reviews tax revenue streams, budget considerations
Summary
City Recorder Brad Wilson briefed the council on Midway’s revenue streams, noting the city has formally raised its property tax rate once since 2002 and that population has declined slightly; council discussed resort tax rules, franchise taxes, and potential annexation concerns with Wasatch County.
City Recorder Brad Wilson presented an overview of how Midway receives and expends tax revenue at the March 23 work meeting, reviewing general fund revenue, taxes levied by the city, and conclusions for budgeting.
Wilson told the council the city has formally raised its property tax rate only once since 2002 and that Midway’s population has decreased slightly over the past two years. He reviewed revenue sources, including franchise taxes and transient room (resort) taxes, and noted statutory restrictions that affect how some revenues can be spent. The Mayor said the city would be able to continue levying the resort tax.
Council members discussed factors that affect revenue and costs, including the distinction between primary and secondary residences, increased business and resort activity, building permits, downtown parking and the prospect of annexing additional Wasatch Mountain State Park property — a topic that raised concerns from Wasatch County according to the presentation. No formal action was taken; the presentation is intended to inform future budget work and upcoming budget meetings.
