Truth in Taxation
Lehi City is proposing to increase its property tax revenue. If the proposed budget is approved, Lehi City will increase its property tax budgeted revenue by 3.38% above last year’s property tax budgeted revenue (excluding eligible new growth).
Notice of Proposed Tax Increase
Impact on REsidents and Businesses
The proposed Lehi City tax on a residence valued at $559,000 would increase from $353.57 to $365.56, which is $11.99 per year.
The proposed Lehi City tax on a business valued at $559,000 would increase from $642.85 to $664.65, which is $21.80 per year.
What is Truth in Taxation?
Utah’s property tax system is governed by a set of laws and regulations commonly referred to as “Truth in Taxation.” The objective of these rules is to keep property taxes from rising simply as a result of increasing property values. Each year the Utah State Tax Commission determines each taxing entity’s “Certified Tax Rate”. Anytime a taxing entity assesses a property tax rate higher than the certified rate, the entity must advertise that rate as a tax increase.
Understanding Utah Property Taxes
A public hearing will be held on August 16, 2022 at 7 p.m. at Lehi City Hall, 153 N 100 E.