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Finance director briefs council: revenues up, property tax scenarios outlined
Summary
Finance Director Anna Montoya told the council general fund revenues rose ~8.4% after an unpredictable November bump; staff presented property-tax scenarios showing each 1% rate increase would yield roughly $73,000 and outlined Truth in Taxation steps and timing.
Anna Montoya, Finance Director, gave the council a numerical overview of FY2026 and the FY2027 outlook, saying the city saw a stronger-than-expected November that left general fund revenues about 8.4% above prior expectations. "We had a big bump in November; it has been unpredictable but is up by 8.4%," she said, noting sales tax is the largest single revenue source and permit revenue has declined.
Montoya walked the council through property-tax scenarios and Truth in Taxation considerations: every 1% increase in the rate would generate roughly $73,000. She noted a Utah County processing error reduced property-tax collections this year but staff expect the county to correct that in the following year. The council directed staff to include property-tax and transportation-utility-fee options when preparing a proposed FY2027 budget and to present the statutory steps required if the council elects to raise rates.
