For residents of Monroe City, Utah property taxes are about to soar.
“Soar” might be a strong word. The city is poised for its largest property tax increase in 35 years. The city council is holding strong on a 100% increase to city property taxes. At first, that sounds really bad.
Why would anyone live there? How many people will flee? A 100% increase? Madness! Out of control government spending. What is this, New Jersey?
Pump the brakes. That 100% increase will only amount to about an additional $15 a month for most home owners.
“As people have understood that the amount equates to less than $15 a month for almost all of our residents, that became a much more feasible number for them to consider,” City Councilman Michael Mathie says. “We’ve had a lot more positive response as we’ve been able to communicate with people on the actual project and the feasibility.”
The move comes on a bevy of proposed increases for Utah property taxes. Several cities and counties are looking into increasing their rates. In all, seven different localities are looking at increasing tax revenue. Some of these measures will wind up on the November ballot.
Utah has seen an economic resurgence of late, specifically in the tech industry. As more people move in, the need for more infrastructure may increase cost of living requirements. Utah remains a pretty reasonable place to live, however if Utah property taxes increase; that gap will narrow.
Thinking of Moving?
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