Utah Code 59-3-104. Tax equivalent property list — Assessment of tax equivalent property
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Terms Used In Utah Code 59-3-104
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Tax equivalent property: means property on which any tax equivalent payment is made. See Utah Code 59-3-102
The county assessor shall keep a separate list of the tax equivalent property in each tax area in the county, showing the value of all tax equivalent property in each area. The value of tax equivalent property established on the tax equivalent property list is subject to the same process of review and equalization as the value of taxable property shown in the assessment roll. The assessment roll delivered to the county treasurer under Section