After three decades of public pressure and negotiations with the Planning Commission and City Council, the City is giving residents the power to make their own decision once and for all. We now have an opportunity to permanently preserve and protect Treasure Hill and Armstrong Snow Ranch Pastures from development – two of the last major developable pieces of land within historic Park City. The preservation of these properties is contingent upon a November 2018 voter-approved general obligation bond for $48 million.
This November, vote FOR issuance of bonds.
For Saving Treasure Hill.
For Preserving Armstrong Snow Ranch Pastures.
For Future Generations.
Why support the bond?
Protect and Preserve Park City.
Treasure Hill is one of the last major and significant developable pieces of property in Old Town Park City that has the potential to drastically impact the community’s identity and quality of life. Saving this land will protect more than 100 acres of forest and hiking/biking trails, and Old Town’s historic character and scale. It will also avoid the overwhelming neighborhood impacts of construction and development (the potential construction impacts include years of blasting and excavation, truck hauling and equipment staging, utilities and retaining walls, etc.). If voters approve the bond, we will have an opportunity to permanently retire all density through a conservation easement, and forever protect the hill above Old Town and the greater Park City community from overdevelopment, traffic and congestion.
Putting the decision to the voters is based upon decades of community input and a financially sound funding strategy. The financial strength of the City is due to conservative budgeting combined with a vibrant resort economy and an extensive network of non-primary residential properties and lodging. Half of Park City’s existing property tax debt will be retired over the next 5 years, and Park City has among the lowest municipal property tax rate in Utah. Primary residents will only pay 15% of Park City’s property and sales taxes; the rest is paid by second homeowners, hotels, investment properties (71%), and businesses (9%). Tax dollars will also be leveraged with other money through private fundraising efforts to preserve Armstrong Snow Ranch Pastures.
Residents & Voters Decide.
If the $48 million open space bond is issued as planned, an annual property tax to pay debt service will be required over a period of 16 years in the estimated amount of $194 per year for a $800,000 home. A business property with the same assessed value will pay an estimated amount of $353 per year.