Provo City School District approves property tax increase ahead of Truth-in-Taxation hearing
Curtis Booker, Daily Herald file photo
The outside brick facade of the Provo City School District administrative office is shown Tuesday, Nov. 19, 2024.On Tuesday, Provo City School District approved its proposed certified tax rate for the 2027 school year to be submitted to the county, which reflects an estimated 2.3% increase in revenue.
The property tax increase is not yet final and will go through a Truth-in-Taxation hearing on Aug. 5.
For a house valued at $525,609, the proposed change would increase annual property taxes from $2,001.05 to $2,023.59, or $22.54 per year. For a business valued at $525,609, the annual tax rate would see an estimated increase of $40.99, from $3,638.27 to $3,679.26.
The proposed increase would generate an additional $1.3 million for the district, including $824,327 to the general fund for teacher and staff salary increases, and a $482,615 increase in tax revenue for capital projects, which is an interest payment for a lease revenue bond, according to district documents.
The estimated basic property tax rate would increase from .006922 to .007000, or 1.31%, though the figure is an estimate because the district has not received the final basic rate from the state, according to PCSD business administrator Devyn Dayley. She said the district’s deadline to submit its proposed rate to the county comes before the state’s June 22 deadline to set the basic rate.
On Tuesday the board approved the district’s portion of the rate, increasing it from .005543 to .005648, or a 1.89% increase. The debt services tax rate decreased by $850,900, according to Dayley.
