From Deseret News archives:
Midvale may raise property taxes
The 12 percent increase would help fund services that will be needed in the Bingham Junction development, which is being built on a former Superfund site to the west of town, said city manager Kane Loader.
If the increase goes through, full-time law enforcement and firefighters would be added, as would a full-time position in parks and recreation.
The increase would help make up for the fact that Midvale has never charged impact fees on new construction, Loader said. Midvale has required developers to donate and develop green space.
Loader also attributes the proposed increase to flat, or even negative, sales tax revenues. Construction businesses, once a tax revenue cash cow, are suffering and retail firms have been unable to make up the difference.
Midvale hasn't raised taxes since 2005, when rates went up 15 percent.
Midvale is courting big-box stores for the Bingham Junction development. The city expects to start receiving tax revenues from the mixed-use, transit-oriented development as early as the end of 2008.
During the 2008 fiscal year, Midvale received about $2.8 million of its $16.8 million budget from property taxes. The proposed increase would add about $330,000 to the budget.
Midvale will hold a truth-in-taxation hearing Aug. 12 regarding the increase in property tax. It will also hold a public hearing on the 2008-09 tentative budget June 3.
E-mail: rpalmer@desnews.com
