(1)  After the assessor assesses taxes or uniform fees on personal property, the assessor or, if this duty has been reassigned in an ordinance under Section 17-16-5.5, the treasurer shall:

Terms Used In Utah Code 59-2-1302

  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Personal property: All property that is not real property.
  • Personal property: includes :
(a) every class of property as defined in Subsection (29) that is the subject of ownership and is not real estate or an improvement;
(b) any pipe laid in or affixed to land whether or not the ownership of the pipe is separate from the ownership of the underlying land, even if the pipe meets the definition of an improvement;
(c) bridges and ferries;
(d) livestock; and
(e) outdoor advertising structures as defined in Section 72-7-502. See Utah Code 59-2-102
  • Property: means property that is subject to assessment and taxation according to its value. See Utah Code 59-2-102
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • real property: includes :
    (a) the possession of, claim to, ownership of, or right to the possession of land;
    (b) all mines, minerals, and quarries in and under the land, all timber belonging to individuals or corporations growing or being on the lands of this state or the United States, and all rights and privileges appertaining to these; and
    (c) improvements. See Utah Code 59-2-102
  • State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
    • (a)  list the personal property tax or uniform fee with the real property of the owner in the manner required by law and as provided under Subsection (3), if the assessor or treasurer, as the case may be, determines that the real property is sufficient to secure the payment of the personal property taxes or uniform fees;

    (b)  immediately collect the taxes or uniform fees due on the personal property; or

    (c)  on or before the day on which the tax or uniform fee on personal property is due, obtain from the taxpayer a bond that is:

    (i)  payable to the county in an amount equal to the amount of the tax or uniform fee due, plus 20% of the amount of the tax or uniform fee due; and

    (ii)  conditioned for the payment of the tax or uniform fee on or before November 30.

    • (2) 

    (a)  An unpaid tax as defined in Section 59-1-705, or unpaid uniform fee upon personal property listed with the real property is a lien upon the owner’s real property as of noon of January 1 of each year.

    (b)  An unpaid tax as defined in Section 59-1-705, or unpaid uniform fee upon personal property not listed with the real property is a lien upon the owner’s personal property as of noon of January 1 of each year.

    (3)  The assessor or treasurer, as the case may be, shall make the listing under this section:

    (a)  on the record of assessment of the real property; or

    (b)  by entering a reference showing the record of the assessment of the personal property on the record of assessment of the real property.

    (4) 

    (a)  The amount of tax or uniform fee assessed upon personal property is delinquent if the tax or uniform fee is not paid on the day on which the tax notice or the combined signed statement and tax notice under Section 59-2-306 is due.

    (b)  Subject to Subsection (4)(c), delinquent taxes or uniform fees under Subsection (4)(a) shall bear interest from the date of delinquency until the day on which the delinquent tax or uniform fee is paid at an interest rate equal to the sum of:

    (i)  6%; and

    (ii)  the federal funds rate target:

    (A)  established by the Federal Open Markets Committee; and

    (B)  that exists on the January 1 immediately preceding the date of delinquency.

    (c)  The interest rate described in Subsection (4)(b) may not be less than 7% or more than 10%.

    (5)  A county assessor or treasurer shall deposit all collections of public funds from a personal property tax or personal property uniform fee no later than once every seven banking days with:

    (a)  the state treasurer; or

    (b)  a qualified depository for the credit of the county.

    Amended by Chapter 163, 2011 General Session

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