Important Information Regarding City of Springtown’s Proposed Tax Rate for FY2024-25

• August 13, 2024

On August 22, 2024 at 7 p.m., the City of Springtown City Council will meet to discuss and adopt its tax rate and budget for the 2024-2025 fiscal year. Ahead of that meeting and those votes, we wanted to present the public with important information regarding the proposed tax rate for the 2024 tax year.

Please review this information which includes the proposed tax rate, a comparison of proposed expenditures between different departments, proposed revenues by source, and the anticipated impact on the average homeowner as compared to their municipal property taxes last year.

To continue the City’s high level of financial transparency, also included is an explanation about the implications of state-mandated tax rate calculation methods which resulted in the City’s No-New-Revenue rate (as defined by state law) being a rate that generates additional revenue. Though state law calls the proposed tax rate a rate that would not generate additional revenue, the City Council believes it is important to be transparent with our taxpayers in the fact that the “no-new-revenue” rate (again, a term required to be used under state law), does in fact generate additional revenue.

That $171,517 in additional revenue will be combined with other revenue sources to improve the services provided to our citizens by funding additional dispatch personnel for the police department, the equipment and training need for an SRT (special response team) for the police department, transitioning a part-time kennel tech to a full-time position for the animal control department, various park improvements, and other new additions proposed in the 2024-2025 fiscal year budget.

For an in-depth explanation of the state-mandated factors that impacted the tax rate calculation adoption process, please review the file included below.