Budget

If you are interested in seeing the budget for the current fiscal year or in reading the financial audit, you may go to the website of the Accountability website and find the information there. You may also come to the office and ask to see the documents.

Richmond City's fiscal year runs from July 1st through June 30th. The council discusses the upcoming budget each year in April; a public hearing is held in May for input. In June, the budget is adopted by resolution at a city council meeting.

Transparency

Utah has a website dedicated to the transparency and accountability of government finances. Richmond posts its budgetary transactions there.

2018 State of the City - Budget & Property Tax

The last time property taxes were adjusted was around 1978; the 1980 population was 1,705. With the growth in the city (population, infrastructure, emergency services) comes the need for increased services provided by the city. Expenses have increased over several decades while revenue has stayed the same.

The following excerpt was taken from the State of the City address on February 22nd. It gives an overview of why the council is looking at the possibility of raising property taxes, what revenue streams make up the city budget, and more.

Numerous opportunities exist for you to give your feedback to any proposal to raise property tax. Keep informed by attending council meetings or reading the minutes. Agendas and meeting minutes are posted at the city office, the library, and the post office as well as submitted to the Herald Journal for publication. In addition, they can be found here and on the Utah Public Meeting Notice website.

PROPERTY TAX INCREASE UPDATE

The public hearing and vote of the city council on the proposed property tax increase was held on Tuesday, August 14th. We would like to thank everyone who attended the meeting and offered their input, made comments and asked questions. We would also like to thank those who contacted us in the days leading up to the meeting to let us know their thoughts and concerns as well. The city would have received $114,436 in property tax this year if no changes were made. The original proposal of the city council was to increase the rate to generate $200,000 per year (74% increase) which would have been an increase to the average home in the city of $77.23 per year or $6.44 per month. After discussion, public input and consideration, the council unanimously voted in favor of the following: the property tax rate was increased to generate $175,000 in yearly revenue (53% increase) which is an increase to the average home in the city of $54.67 per year or $4.56 per month. The City Council & Mayor


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