The Smithfield City Council is holding a public hearing over the proposed property tax increase. The expected increase is $27.88 per year for a $185,000 home and $50.69 for a business of equal value. The public hearing will be held during the council’s regular meeting on Wednesday, August 10 at 6 p.m.
If the tax increase passes, it will be the second property tax increase to Smithfield residents. Recently the Cache County School Board raised property taxes by nearly $50 a year for homeowners across Cache County.
Other items scheduled for consideration include a discussion on storm water issues, discussion on Mack Park property line, agreement with Zions Bank over refunding the water revenue bonds, and two resolutions setting the final tax rate and budget for 2011-2012.