JACKSON HOLE, Wyo. — Calling it a diversification of revenue sources, town council opted to levy property tax for the first time in over 40 years.
Even with the Town of Jackson’s main source of funding (sales tax) coming in far above projections, town council voted to also levy a half-mill of property tax at its regular meeting last Monday. The tax is expected to bring in about $250,000, annually.
The half-mill bump would lead to an increase of $47.50 annually for a property valued at $1M.
The town has not collected property tax since the 1970s. The council says it is eyeing the additional revenue for Fire/EMS. Since the 1970s, the town has generated 74% of its revenue from sales tax. The town will enjoy a share of the $30,000,000 surplus reported by the county last week in sales tax generation.
Teton County, the school district, the library, the fair, the conservation district, and Weed & Pest all levy mills of property tax, but not the town.
Without a broader range of revenue options—or perhaps even with—the town continues to make major budget reductions whenever the national and local economy enter downturns. When times are good and travel is booming, the town also feels the increase in demand for services.
During the meeting, newly-seated councilwoman Jessica Sell Chambers opposed the vote for a half-mill levy, saying it should be more…the max amount allowed. Fellow newcomer Jim Rooks also voted against, preferring no additional financial burden to citizens at this time. Mayor Hailey Morton Levinson, and councilmen Jonathan Schechter and Arne Jorgensen voted for the property tax.
During the meeting, town councilmembers were keen about providing some financial relief for residents that cannot keep up with increases. Council and staff are looking into potential grants, and other local and federal programs that provide property tax relief.
The first tax collection of the half-mill for the town will be in November of 2021.
