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Murray to hold public hearing on proposed tax increase Aug. 14

FILE - Murray residents are invited to comment on a proposed property tax increase during a public hearing on Tuesday, Aug. 14.
FILE - Murray residents are invited to comment on a proposed property tax increase during a public hearing on Tuesday, Aug. 14.
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MURRAY — Residents are invited to comment on a proposed property tax increase during a public hearing on Tuesday, Aug. 14.

The meeting will be held at 6:30 p.m. at Murray City Hall, 5025 S. State.

If the proposal is adopted, tax on a $323,500 residence would increase from $288.59 to $423.99, which is $135.40 per year. Tax on a $323,500 business would increase from $524.72 to $770.90, which is $246.18 per year.

If approved, the city would increase its property tax budgeted revenue by 46.93 percent above last year’s property tax budgeted revenue excluding new growth.