By Myrna Trauntvein
Times-News Correspondent
The certified tax rate was set by Nephi City Council
at .001576 for the year 2004.
"The council sets the property tax rate each year for
the city's portion of property taxes assessed on properties
within Nephi City," said Mayor Chad Brough.
The certified rate is calculated by the state tax
commission and the county clerk in order to budget for the
same property tax as was budgeted last year from properties
taxed last year, said Blair Painter, city recorder.
The state tax commission changed the form used to
calculate the tax this year.
The tax rate set represents a 6 percent increase over
the rate used last year.
Council members wanted to gather the same amount of
property tax as they had in 2003 plus the increase in
property tax which would be collected as a result of new
growth.
Last year the certified tax rate for Nephi City was
.001479.
"Last year, what was budgeted was not what was
received," said Painter.
That was because there was a 92 percent collection
rate. Meaning that 8 percent of taxpayers failed to pay the
expected amount.
While the certified tax rate is set to collect what is
needed, it is suspected that the .0001576 will represent a
significant increase. The reason for that increase is that
the state stepped in and required changes.
"The staff recommends you adopt the certified tax rate
as the property tax rate for Nephi City for this year," said
Painter.
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