So many taxes, so little time

Over the next 10 years, the city of Sun Valley hopes to spend some $3 million--or $300,000 a year--on capital improvement projects, such as street and building repair.

A means of raising the money, however, needs to be decided immediately. Any change in local option tax or property tax that could be used to help fund the capital improvements plan needs to go on the ballot this November.

The Sun Valley City Council, therefore, will be discussing those possible tax changes at a special meeting to be held at 5 p.m. on Thursday at Sun Valley City Hall.

In a memo to the council dated June 3, Mayor Tom Praggastis stated that "to preserve and enhance the quality lifestyle the citizens of Sun Valley enjoy and deeply value, certain goals must be attained over the next five years."

Those goals, addressed in the city’s capital improvements plan, could be funded by a raise in Sun Valley property taxes, or with an extension or modification of the local option tax.

The existing local option tax will expire on Dec. 31, 1999, and the council would like to see a new option tax proposal in place by November 1998--so the 1999/2000 budget can implement the plans.

Under the property tax code, the city could also adjust the mil rate of its property tax by up to 0.004 if 60 percent of voters approve. This adjustment would be permanent.

Another option is to adjust the mil rate for two years only, which requires voter approval of 50 percent.