Utah Code 59-2-924.2. Adjustments to the calculation of a taxing entity’s certified tax rate
Current as of: 2023 | Check for updates
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59-2-924.2. Adjustments to the calculation of a taxing entity‘s certified tax rate.
(1) | For purposes of this section, “certified tax rate” means a certified tax rate calculated in accordance with Section 59-2-924. |
(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 |
(2) | Beginning January 1, 1997, if a taxing entity receives increased revenues from uniform fees on tangible personal property under Section 59-2-405, 59-2-405.1, 59-2-405.2, 59-2-405.3, or 72-10-110.5 as a result of any county imposing a sales and use tax under Chapter 12, Part 11, County Option Sales and Use Tax, the taxing entity shall decrease its certified tax rate to offset the increased revenues. |
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(4) | Beginning January 1, 1998, if a municipality has imposed an additional resort communities sales and use tax under Section 59-12-402, the municipality’s certified tax rate shall be decreased on a one-time basis by the amount necessary to offset the first 12 months of estimated revenue from the additional resort communities sales and use tax imposed under Section 59-12-402. |
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Amended by Chapter 16, 2023 General Session