Utah HB0161 proposes a property tax exemption for residential property, contingent on a constitutional amendment.

Utah HB0161 modifies property tax rules for residential property, increasing the exemption percentage to 60% of the fair market value. This bill allows a residential exemption for one primary residence per household, with additional exemptions for tenants and specific properties. The changes are contingent on the passage of a constitutional amendment proposed by H.J.R. 7. If approved, the bill would take effect on January 1, 2027.

Utah HB0161 proposes a property tax exemption for residential property, contingent on a constitutional amendment.

Utah HB0161 modifies property tax rules for residential property, increasing the exemption percentage to 60% of the fair market value. This bill allows a residential exemption for one primary residence per household, with additional exemptions for tenants and specific properties. The changes are contingent on the passage of a constitutional amendment proposed by H.J.R. 7. If approved, the bill would take effect on January 1, 2027.