Council hears FY2026–27 budget overview as administration proposes $13.5M property-tax increase

Salt Lake City finance officials presented the administration's proposed FY2026–27 general-fund budget and revenue update at the May 12 work session, including a recommendation for a $13.5 million property-tax increase. Marybeth Thompson, the city’s chief financial officer, said the proposed changes include $13,200,000 in cuts across general fund departments and an overall budget increase of 1.57%.

Lisa, the administration's revenue presenter, told the council the general-fund revenue budget for FY27 is projected at $498,000,000 and that the property-tax category is increasing by about $18,000,000 — driven by the proposed $13.5 million increase, an estimated $2.5 million in new growth, and $2.5 million tied to the Inland Port. "The general fund revenue budget for f y 27 is $498,000,000," the presenter said.

Thompson described targeted investments funded by the proposed tax increase, including public safety, emergency response and capital projects. She said the property-tax increase is broken out to support several areas — fire, criminal justice and capital improvement projects — and that about half of the property-tax lift would fund CIP projects. "We have made strategic investments as increases for public safety, emergency response, and community services," Thompson said.

Why it matters: Councilmembers pressed staff on timing and the limits of municipal authority. Staff reminded the council that any property-tax increase is not final until the Truth-in-Taxation process and an August public hearing; revenue tied to that increase will not be available until September if adopted. Council deliberations on the measure are expected to continue in coming meetings.