Council Provided Information - 8/15/2023CITY COUNCIL OF SALT LAKE CITY
451 SOUTH STATE STREET, ROOM 304
P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476
COUNCIL.SLCGOV.COM
TEL 801-535-7600 FAX 801-535-7651
COUNCIL BUDGET
STAFF REPORT
CITY COUNCIL of SALT LAKE CITY
tinyurl.com/SLCFY24
TO:City Council Members
FROM: Jennifer Bruno
Deputy Director
DATE:August 15, 2023
RE:Truth In Taxation Public Hearing and Final FY 2024 Budget Adoption
ISSUE AT A GLANCE
The property tax system in Utah is governed by a set of laws commonly referred to as “Truth in
Taxation.” If the Council sets a budget in June that causes the City or Library to receive more funds
than the previous fiscal year, that triggers the need for a public hearing referred to as a “Truth-in-
taxation hearing,” along with various notice requirements. For the FY 24 budget, the Council did not
adopt an ongoing tax increase for the City or Library. However, the Council did adopt the judgement
levy for both funds. A judgment levy is a mechanism authorized by state law that allows the City (and
in this case the Library) to recoup property taxes that it was not paid in the previous year due to
properties that were judged to be of a lesser value. This is a one-time, one-year property tax increase,
which means it will only reflect on property tax bills received in 2023. According to state law, even
though this is a one-time increase, it does trigger the need for a truth in taxation hearing.
ACTION OPTIONS
At the conclusion of the hearing, the Council has the option of adopting the rates for both the City and
Library as proposed. It could also elect to adopt a rate less, but not greater than the rate proposed and
advertised. If the Council adopts a rate less than the rate proposed, the Council would need to re-
balance the City and/or Library Fund budget, as it would create a situation where expenditures exceed
revenues.
Project Timeline:
Public Hearing: August 15
Potential Action: August 15