Utah Code 59-2-926. Proposed tax increase by state — Notice — Contents — Dates
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If the state authorizes a tax rate that exceeds the combined basic rate described in Section 53F-2-301, or authorizes a levy pursuant to Section 59-2-1602 that exceeds the certified revenue levy as defined in Section 59-2-102, the state shall publish a notice no later than 10 days after the last day of the annual legislative general session that meets the following requirements:
(1)
Terms Used In Utah Code 59-2-926
- Certified revenue levy: means a property tax levy that provides an amount of ad valorem property tax revenue equal to the sum of:(9)(a)(i) the amount of ad valorem property tax revenue to be generated statewide in the previous year from imposing a multicounty assessing and collecting levy, as specified in Section
59-2-1602 ; and(9)(a)(ii) the product of:(9)(a)(ii)(A) eligible new growth, as defined in Section59-2-924 ; and(9)(a)(ii)(B) the multicounty assessing and collecting levy certified by the commission for the previous year. 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
- 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
(1)(a) The Office of the Legislative Fiscal Analyst shall advertise that the state authorized a levy that generates revenue in excess of the previous year’s ad valorem tax revenue, plus eligible new growth as defined in Section 59-2-924, but exclusive of revenue from collections from redemptions, interest, and penalties:(1)(a)(i) in a newspaper of general circulation in the state; and(1)(a)(ii) as required in Section 45-1-101.(1)(b) Except an advertisement published on a website, the advertisement described in Subsection (1)(a):(1)(b)(i) shall be no less than 1/4 page in size and the type used shall be no smaller than 18 point, and surrounded by a 1/4-inch border;(1)(b)(ii) may not be placed in that portion of the newspaper where legal notices and classified advertisements appear; and(1)(b)(iii) shall be run once.(2) The form and content of the notice shall be substantially as follows:“NOTICE OF TAX INCREASE The state has budgeted an increase in its property tax revenue from $__________ to $__________ or ____%. The increase in property tax revenues will come from the following sources (include all of the following provisions):
(2)(a) $__________ of the increase will come from (provide an explanation of the cause of adjustment or increased revenues, such as reappraisals or factoring orders);(2)(b) $__________ of the increase will come from natural increases in the value of the tax base due to (explain cause of eligible new growth, such as new building activity, annexation, etc.); and(2)(c) a home valued at $100,000 in the state of Utah which based on last year’s (levy for the basic state-supported school program, applicable tax rate for the Property Tax Valuation Fund, or both) paid $____________ in property taxes would pay the following:(2)(c)(i) $__________ if the state of Utah did not budget an increase in property tax revenue exclusive of eligible new growth; and(2)(c)(ii) $__________ under the increased property tax revenues exclusive of eligible new growth budgeted by the state of Utah.”