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Proposal
Background/Overview
1) The Legislature created this problem when we created our local school districts. We drew
the district boundaries.
2) There is wide disparity between property values, rate, and revenue per student in each
district (with some districts that have a high tax rate and low revenue per student):
a.
b.
c.
d.
e.
South Sanpete (Tax Rate = .00762, Ave Value = $171,510, Rev/ADM = $1,409)
Nebo (Tax Rate = .00773, Ave Value = $200,525, Rev/ADM = $1,499)
Jordan (Tax Rate = .00502, Ave Value = $286,504, Rev/ADM = $1,598)
Rich (Tax Rate = .00348, Ave Value = $1,117,552, Rev/ADM = $5,182)
Park City (Tax Rate = .00340, Ave Value = $2,006,551, Rev/ADM = $6,737)
SB 97 - Proposal:
a. The State Property Tax Rate (Minimum Basic Rate) has not be adjusted since 1996.
The Rate has been revenue neutral for 16 years (revenue only increased with actual
property growth).
b. Total inflationary buying-power impact to Minimum Basic Rate is: