Town & County

City Council sets final budget at $98.5 million for 2025

PARK CITY, Utah — On Thursday, the City Council unanimously adopted its fiscal budget for 2025. The final $98.5 million operating budget is the result of months of collaboration with residents, businesses, and community stakeholders.

Council outlined in its staff report this year’s budget, which focuses on maintaining core programs and customer service, investing in their workforce, and refocusing on community initiatives. Unlike previous years, there were few new positions, programs, or initiatives.

An economic comeback after the COVID-19 pandemic led to strong sales tax earnings, which in turn increased the city’s revenue. Town officials expect that growth to level off in the next year, anticipating about $2 million or 4% growth over FY24 in the city’s General Fund.

Despite the stabilization, the town says they have not sought to cover the increasing costs of services with a heavier burden on taxpayers. In fact, property taxpayers will save on the PCMC portion of their property tax bill in 2025 due to the retirement of a general obligation bond. That savings, officials say, will equate to approximately $68 for the average primary home and $125 for a non-primary or business property.

Property and sales taxes are the largest revenue sources for the general fund, but the city’s water fund relies primarily on fees. As anticipated, the city has increased the water rates by 4.5%. City Council did apply resources from the general fund to mitigate the rate hike, but in large part, users needing to shoulder the burden is a result of big municipal water users, such as the Park City Municipal Golf Course, not paying for water until this year.

“The City Council and I share a steadfast commitment to fiscal responsibility, while adequately supporting our goals and our professional workforce,” said Park City Mayor Nann Worel. “The FY25 budget accomplishes what we set out to do: maintains core programs and essential services, provides high-quality customer service to our residents and businesses, reinvests in our employees, and continues to support critical community initiatives and new capital projects.” 

 Several FY25 budget (operations and capital) initiatives are highlighted below:  

  • $9.4 million for the Homestake roadway and multi-use path and sidewalk
  • $10 million for multi-use transportation projects
  • $825,000 to support affordable childcare for working families
  • $638,500 for essential non-profit services
  • $15 million for a Park-and-Ride near the intersection of S.R. 248 and U.S. 40
  • $3.5 million to underground transmission lines in Bonanza Park
  • $2.5 million for bike and pedestrian improvements in Thaynes/Three Kings area
  • $1 million in additional investments in the City’s workforce
  • $15.2 million for a new Community Center at City Park
  • $7.5 million for new aquatics facilities at the PC MARC
  • $8.5 million for bus stop improvements, including shelters and ADA upgrades
  • $75,000 to plan for the 2034 Winter Olympics. 

“This budget addresses important community priorities, such as transportation, housing, recreation, connectivity, and our employees,” said City Manager Matt Dias. “In particular, we are very excited to begin renovating our PC MARC aquatics facilities, improve our bus stops, and build a new Park City community center and summer camp headquarters in City Park, to name but just a few.” 

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