In addition to the 78 entities which proposed tax hikes during the summer, 27 more entities which run on a calendar financial year, will be voting on their proposed tax hikes in the coming weeks. We have compiled a list of these entities along with relevant information below.
Due to some taxing entities with some significant tax hikes, the average hike amount on an average home value is $56.77, or a 59% increase. The median hike amount is $45.36 or 50%. There are a few entities whose tax hikes are substantially higher: South Davis Recreation District at 140% or $29.66, South Summit Fire Protection at 182% or $216, and Lakepoint Cemetery and Park Service Area at 150% or $67.55. While some of these taxing entities are more specific and unfamiliar to many taxpayers, the size of some of their tax hikes illustrates a very important point- special services like recreation, fire protection and others often become very costly and require a fairly high subsidy from taxpayers. Tax hikes like these are a reminder that there is no such thing as a “free lunch”.
We recommend that taxing entities issue a modest tax hike every five to seven years to capture the impacts of inflation; more frequent increases implies poor budgeting, and less frequently generally forces a much larger increase at a later date. Truth in Taxation hearings provide taxpayers with clarity on how the increased revenues will be used. We encourage all concerned residents to attend the relevant hearings for these proposals.