At its regular meeting Monday evening, Town Council chose to make a long-term commitment to diversify its revenue for the first time in over 40 years. The vote was to levy a half-mill of property tax, which would bring in about $250,000 annually.
The Town has not collected property tax since the 1970s. Various Town Councilors have stated that this will follow Teton County’s use of mills to support Fire/EMS. Since the 1970s, the Town has generated 74% of its revenue from Sales and Use tax and has lacked latitude for revenue for more than 40 years.
In the meantime, property taxes have been collected and utilized by Teton County, the School District, the Library, the Fair, the Conservation District, and Weed & Pest, but not the Town.
Diversifying Town revenues will help fund core municipal services like safety, pathways, snowplowing, and public transit, and that the organization can continue to make the necessary investments today as a hedge against future needs.