BUGDET AND TRUTH IN TAXATION HEARING(S) SUMMIT COUNTY BUGDET AND TRUTH IN TAXATION HEARING(S)

BACKGROUND July: Departments submitted requests Aug-Sept: Budget committee Sept-Oct: County Manager Oct-Dec: County Council Budget adopted on or before Dec. 31

REVENUES $53.8 million budgeted revenues, including $4.1 million in new property revenue from Truth in Taxation (TNT) process.

REVENUES $53.8 million budgeted revenues, including $4.1 million in new property revenue from Truth in Taxation (TNT) process.

REVENUES

WHY ARE PROPERTY TAXES IMPORTANT? Provide a stable consistent source of funding for government programs and services. Maintain steady revenue levels Offer a foundation of funds from which the County can build essential governmental programs.

THE PROBLEM Summit County will have to cut programs and service levels that are supported by the general and municipal services property tax revenues in order to adopt a balanced budget.

CAUSES OF THE PROBLEM County revenues from property taxes are not sufficient to meet essential and growing community needs. Inflation has drastically reduced our purchasing power Population growth has slowed and residential permits are down Budget expenditures have grown to meet increased community demands and Council strategic goals

HOW DO PROPERTY TAXES WORK? Calculating tax rates PROPERTY VALUES TAX RATES

CALCULATION OF PROPERTY TAXES DOES NOT ACCOUNT FOR INFLATION *Municipal Services Fund held Truth in Taxation hearing 2013 Average CPI change from 2004 – 2016: 2.0%

HOW DOES TRUTH IN TAXATION WORK? What is Required: Notification of Public Meeting on or before Oct 1 (Sept 14) Public Hearing 14 days before election (Sept 20) By November 1 send parcel specific notice (Oct 31) 2 Weeks before Public Hearing advertise notice of TNT 1 Week before Public Hearing advertise notice of TNT Hold Public Hearing (before Dec 31) What has been Done: Currently satisfied requirements of the TNT process PLUS eight articles in The Park Record, including an Editorial; 10+ mentions on KPCW in addition to weekly interviews with Manager, Council and staff; 25+ mentions on social media; 20+ presentations to staff, city councils, civic/business boards; Met with Utah Taxpayers Association

2016 Summit County Property Taxes WHERE DO MY PROPERTY TAXES GO? 2016 Summit County Property Taxes

EXPENSES Strategic Plan: Transportation and Congestion Add $14.9m related to transportation; $2.0m transit district Workforce Housing $150k to advance Cline/Dahle area project Environmental Stewardship $265k in energy efficiency projects; $30k in EV chargers Refine County General Plans & Development Code $50k infrastructure needs study Mental Health/Substance Abuse and Access to Services $140k towards Mental Health program (plus partnerships)

EXPENSES $53.8 million budgeted expenses in operating funds, including $1.6 million to rebuild fund balances.

EXPENSES $38.9 million $53.8 million

WHAT SERVICES ARE PROVIDED? General Fund: Municipal Services Fund: Ambulance Services Waste Collection Corrections (Jail) Library Public Health Basic TV Antenna Service Youth Recreation Law Enforcement Snow Plowing Road Maintenance Community Development Planning

CHART OF POSITIONS Recommending two additional FTE’s: Housekeeper and Landfill Foreman

EXPENSES: Capital Projects Road Maintenance Projects: Project Total Budget Other Sources County Portion Silver Creek $ 1,925,000 1,225,000 700,000 Summit Park (Matterhorn) 750,000 250,000 500,000 Highland Estates 592,000 Other Projects 1,128,900 200,000 928,900 4,395,900 1,675,000 2,720,900

EXPENSES: Capital Projects Transportation Projects: Project Total Budget Other Sources County Portion Jeremy/Pinebrook Interchange $ 5,039,000 Kilby Road Widening 3,460,000 US 40/SR 248 Park & Ride 1,500,000 Kamas Park & Ride Transit Station 845,000 Bond-related projects 10,844,000 Pay as You Go Projects 4,060,000 Pay as you go projects include Ecker park & ride; TDM projects; small cities grants program

EXPENSES: Capital Projects Facility Projects: Project Total Budget Other Sources County Portion Complete Fairgrounds (Phase I) $ 3,000,000 Facilities Energy Efficiencies 265,000 111,720 153,280 Total facility projects: 3,265,000 3,153,280 Fairgrounds project funded by Transient Room Tax

OTHER RESTRICTED FUNDS Transient Room Tax $13.0m Restaurant Tax $2.9m RAP Tax $1.8m Open Space $3.4m Transit District $7.6m Landfill Enterprise $2.0m Fleet Lease $2.2m Insurance Fund $5.4m Fairgrounds Open Space E-bikes Municipal Services Buses Restaurant Tax General Fund Service Area #8 Service Area #6 Transit District Fleet Lease Fund Open Space Fund RAP Tax Transient Room Tax Assessing & Collecting Landfill Enterprise

QUESTIONS Tom Fisher: tfisher@summitcounty.org Matt Leavitt: mleavitt@summitcounty.org Krachel Greenwood: kgreenwood@summitcounty.org Anita Lewis: alewis@summitcounty.org