West Jordan Utah Form Instruction 56 2017-2025

West Jordan Utah Form Instruction 56: What You Should Know

I have no doubt that you will continue  to be successful in your stewardship of the City and County through positive outcomes. Thank you for being a part of  the City of West Jordan's success over my 12 years here. Now and at all times forward. To be clear the State of Utah will no longer require the City to pay any or all the local revenue taxes. Instead, it is the County (now the City of West Jordan) that will be responsible for all the local revenue taxes. The new system will allow the City to make  more than 16 million in annual net municipal revenue and will eliminate the need for the City to apply to the State for any  local revenue. In FY 2012-13, the City of West Jordan incurred local revenue of 2,826.6 million compared to 1,633.2 million in the prior year. This  increase of 0.7% in the previous year of local revenue can be attributed to higher property tax revenues generated by the city's  large population, low population growth and the lower operating costs of a smaller budget. In recent years, revenue generated by the city's real property has increased by 1.8% annually. Property tax revenues  by the city are estimated to increase by 10 million annually when compared to the prior year. While the city has a lower revenue from other sources than  recent years, this is primarily attributable to lower annual increases resulting from property tax collection. There is no  comparison to the city's tax base of the prior year due to the higher property values in the city's metropolitan/urban areas, declining  incomes in neighborhoods and decreases in taxable land values in areas with limited development. Local government revenue represents about 15% of the total State tax base, while the City of West Jordan's revenue source accounts for about 40% of this total. The majority of this local revenue, approximately  60% is generated by personal property taxes. The City of West Jordan has a low property tax rate of 3.4% and pays approximately 1.7 million in property tax each year. In FY 2012-13, the City of West Jordan's property tax revenue had a total of 3,921,560 as of June 30, 2013.

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