Utah Code 59-2-905. Legislature to set minimum rate of levy for state’s contribution to minimum school program — Matters to be considered — Commission to transmit rate to auditors — Acknowledgment of receipt
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Utah Code 59-2-905
- Property: means property that is subject to assessment and taxation according to its value. 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
- Taxable value: means fair market value less any applicable reduction allowed for residential property under Section
59-2-103 . See Utah Code 59-2-102
The Legislature shall set the minimum rate of levy on each dollar of taxable value of taxable property so that it will raise sufficient supplementary revenue to pay the state‘s contribution to the cost of the minimum school program for that year. The Legislature shall take into consideration the estimated tax delinquency for the current year, and shall be conservative in its estimate of revenue to assure ample funds for the state’s contribution to the cost of the minimum school program. The commission shall immediately transmit to the county auditor of each county and to the state auditor a statement of the rate. The county auditor shall, upon receipt, give the commission written acknowledgment of receipt.