Budgets & Taxes

The city's fiscal year begins July 1 and ends on June 30 each year. Annually, South Salt Lake produces several important financial documents that are published for public view.

The annual budget details how funds are allocated to various city functions and services. Budget discussions begin in the spring, with the Mayor presenting a tentative budget to the City Council by mid-May. The public is encouraged to comment on the budget at public hearings held during the budget process.

Property Taxes

Utah law states that property tax revenues provided to a taxing entity, such as the City of South Salt Lake, must remain level each year, plus any new growth. This means that property tax revenues are flat from year to year regardless of changes in market value. There is no built-in adjustment for inflation or other market changes. Though the values of property may increase or decrease, the rate is adjusted to ensure that taxpayers will still pay the same amount of tax. This creates stability in property tax collections and helps avoid the ups and downs associated with market fluctuations, but it also means that no adjustments are made to allow for inflation or to cover the increasing costs of providing city services. The only way for cities to increase property tax revenue is to bring in new growth or raise revenues through increasing taxes. New growth is new fixtures or construction, not a change in market value.

Truth In Taxation

The City may decide to hold a Truth-In-Taxation hearing to adjust for the judgment levy or to consider increasing property tax revenues. Annually considering adopting the Judgment Levy helps stabilize revenues and eliminates the unforeseen negative shortfalls due to judgment awarded refunds. There are significant advantages of electing to hold a Truth-In-Taxation hearing each year. The public has increased opportunities to become informed about the property tax process and, the continuing economic impacts of inflation and the community’s changing needs are considered.

Property Taxes: Information & Resources