SALT LAKE CITY — The Salt Lake City council says they’re facing a $1 million shortfall shortly before a looming budget deadline.
Council Chair Stan Penfold said in a statement Friday the last-minute gap in the city’s $273 million general fund is disappointing, especially since Mayor Jackie Biskupski’s recommended budget is already constrained.
The recommended budget assumed $2.6 million in new growth in property tax revenue, but the city will receive only $1.53 million.
The city council is exploring ways to address the shortfall and they still plan to approve a budget on June 13.
Officials say revenues were smaller than expected because the Utah State Tax Commission changed how it calculates growth in property taxes this year.
The commission gave local governments its annual report on the new property tax revenue Thursday.