The Idaho Falls City Council is talking about increasing property taxes for next year’s budget.
It will certainly be a shock to many people in Idaho Falls if this property tax does pass in the budget. People in Idaho Falls have not seen an increase in more than three years. Not everyone on the City Council is on board with the tax increase, and there is still time to voice your opinion on this issue.
Different opinions are found on the proposed increase in property taxes for the city of Idaho Falls.
“We have very limited options, in as far as revenue, and property taxes is basically it,” said Kenneth Taylor, an Idaho Falls City Council member.
Council member Sharon Parry doesn’t think this is the only option.
“I’m actually disappointed in them not being open for creative suggestions to being cost neutral,” said Parry.
City Council member Ken Taylor says the city has been forced to pay increasing bills with the same amount of money because taxes have remained flat.
“The only way we could proceed with not having this tax increase would be to spend our savings down below reasonable levels or to reduce services provided by the city. We would have to lay off employees and do away with the services we provide,” said Taylor.
Taylor says $8 million is used to pay for the city’s services over three months. In addition, property tax revenue has been declining because the housing market took a hit over the past several years.
“The property values are down, so you have to raise the levy rate a little bit to keep the dollar amount the same,” said Taylor.
“Some of those costs certainly did not need to be included is my feeling,” said Parry.
If your house is valued at $100,000, you can expect to pay an additional $45 under the proposed plan.
The City Council will not vote on the budget until the latter part of August. But next Thursday at 7:30 p.m., the City Council will discuss the proposed budget at the city council meeting.