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Show City Mill Levy Higher, No Tax Increases Seen according to Finance Director Direc-tor Ric Jentschz. but it is, according to their already-adopted already-adopted budget, expected to be around 3 mills. .The County has set a levy of 7.20 mills which coupled with the City and School District levies constitutes a total tax of 65.85 mills. To compute individual property pro-perty taxes, residents -must multiply .65 on one cent times the assessed valuation of their property as determined deter-mined by the Summit County Assessor. After a delay of several weeks, the City Council has levied a tax of 15.34 mills on real property within the corporate limits of Park City. The mill levy, which was set last Thursday evening, determines det-ermines the amount of money each property owner will contribute, during the coming year, towards the general operating expense of the city. Although the levy represents repre-sents a 4.20 mill increase over last year's 11.14 mill tax. City Manager Arlene Loble maintains residents w ill pay no more in property taxes. "Since property in Park City was re-assessed during the past year, state law-requires law-requires a 20 percent property proper-ty tax roll-back." the City Manager said, and "this means, that in order to maintain the same level of revenue, we must raise the mill levy by 20 percent to compensate." The City Manager said a realignment of municipal fee structures has now taken (he financial burden of many municipal functions from the taxpayers and placed it on the shoulders of those who benefit the most from those services. For instance, the S350.000 annual cost of Park Ciiv's bus system is now being met bv increased business li cense fees while before the expense was met directly by the taxpayers. In addition, the city's Planning, and Building Departments are funded totally by fees paid by developers. "The rearranging of the fee structure has enabled the city to meet its growing expenses without placing additional burden on the taxpayers." Loble said. Given the City's recent assessed valuation, one mill, which equals one-tenth of a cent, has the ability of generating roughly $47,000. The 15.34 levy will therefore generate approximately $800,000 in property taxes for the city. Although the levy, by law, should have been set during the first week in August, Loble was delayed in making her recommendation to the Council, because she had to wait until the Park City School District established their own mill levy. The School District, last week, set a levy of 40.31 mills, up substantially from their previous pre-vious tax of 22.11 mills. There are four, entities which make up the total mill levy for residents of Park City. They are: the Park City Five Protection District. Park City School District. Summit County and the City itself. The Fire District has yet to llrmlv establish their levy. |