The City of Orem is poised to raise property taxes by $100 this year. Tax hike proponents will say that it is only another $8 a month, but this $100 annual tax is in addition to nearly $1,300 in property taxes already collected every year on the average Orem home.
The average homeowner in the city has lost 20-30 percent or more of the value of their home, erasing a lot of home equity which has been a burden on the families in our city. Yet rather than having a lower tax burden on a house that is worth less, the property taxes go up.
When property tax, income tax and sales taxes are combined, the state of Utah commonly ranks in the top 10-20 states in the United States for the highest total tax burden. It is counterproductive to raise these taxes in good times, but it is a horrendous mistake in tight times.
Since the recession of 2008, many people have had to cut back, and unfortunately, there are those in our city who are still struggling to recover. Now is a time when both the residents and businesses of Orem need our government to reduce our tax burden.
The nearly $3 million that would be raised by this tax would be more properly and beneficially used by the residents of our city in purchasing the goods and services they want and need.