County Could Face Money-Crunch Due to Growth

None by Elizabeth Ziegler

(KCPW News) Growth continues to bring mixed blessings to Salt Lake County leaders. In his State of the County address Tuesday, Salt Lake County Mayor Peter Corroon boasted about the county's booming economy. But with an estimated 400,000 new county residents expected over the next 20 years, he says the county's rapid growth could prove costly.

"First of all, Salt Lake County is still growing tremendously," Carroon says. "We still have major needs for roads, schools, senior centers, libraries, recreation centers, parks - you name it. We need more of it as we continue to grow."

Corroon added that expanding county services at a time when the nation's economic forecast looks gloomy could put the county in a money-crunch. Since funding for county-run services comes primarily from property taxes, this could mean higher property taxes in the future.

"We in local government collect a majority of our taxes from property taxes, and that tax remains stable, and we can't raise taxes without going through the Truth in Taxation process. We haven't done that for six years," Corroon says. "Our economy now is looking like it could be a little shakier than it was in the past. And so that's something that we are concerned about."

But homeowners don't need to worry yet about a hike in property taxes. Corroon says the county is trying to conserve its resources now so it doesn't need to increase property taxes later. And, he doesn't expect a property tax increase this year or in 2009. 

Use the media player below to hear Salt Lake County Mayor Peter Corroon's State of the County Address:

 

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