Public Hearing on Proposed Property Tax Increase – August 9, 2023 at 6pm
The Town of Alta is proposing to increase its property tax revenue from $243k to $400k by increasing its tax rate. The Town of Alta tax on a $1,894,000 residence with a residential exemption would increase from $661.48 to $1,086.49, which is $425.01 per year. The Town of Alta tax on a $1,894,000 business (or property without a residential exemption) would increase from $1,202.69 to $1,975.44, which is $772.75 per year. The Town is required to go through a “Truth in Taxation” process to increase the tax rate. The truth in taxation process encourages transparency and provides an opportunity for the public to comment on the proposal. A public hearing will be held Wednesday, August 9th at 6pm (regular Town Council meeting starts at 4:30pm). After the public hearing, the Alta Town Council will vote on the proposed tax rate and FY24 Budget.