Property owners will see a smaller sum in the city portion of their tax bills this year.
City Administrator Craig White said the Riverton City Council has adopted a budget that calls for a 5 percent property tax decrease. Unless a property owner's home has been reassessed to reflect a higher value by Salt Lake County, the individual should see lower city taxes.The coming year's tax rate will be .001854.
Taxes on a house assessed at $80,000 will be $89, a reduction from this year's tax of $90.96.
White said a couple of factors have permitted the city to prepare new projects and still keep taxes down.
"What Riverton is doing differently this year, compared to the past, is that previously it relied on building to supplement the general fund. Now we are taking all the fees associated with building and placing them in a capitol improvement fund to do projects," White said.
City officials have projected receiving more than $108,000 in building permit fees next year.
Projects for next year are:
- Road maintenance and bridge maintenance, with the goal of replacing one bridge each year.
- Construction of Homestead Mini-Park, 22400 West 13700 South.
- Replacing deteriorating curbs, gutters and sidewalks.
- Substantially expanding the senior citizen center.
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(Chart)
Riverton City budget
1991-92 1992-93
General Fund $1.32 million $1.43
(in thousands)
Where it comes from:
Property tax $346 $342
Sales tax $540 $580
Franchise tax none none
Licenses and permits $66 $89
Where it goes:
Police $262 $277
Street projects $426 $250
Fire $90 $78
Executive $169 $169
Parks $58 $59
Tax/fee decreases:
Property tax will decrease by 5%
Tax/fee increases:
$1.20 on garbage collection per month