Utah SB0097 amends property tax rate calculation and public notification requirements.

Utah SB0097 amends the calculation of certified tax rates for property taxes and modifies public notification requirements for tax rate increases. It defines terms such as "additional ad valorem tax revenue" and "certified tax rate." The bill excludes certain valuation increases from the calculation of locally assessed new growth and excludes increases to the value of tangible personal property from the calculation. It also limits the total amount of additional property tax revenue a taxing entity may obtain through truth-in-taxation.

Utah SB0097 amends property tax rate calculation and public notification requirements.

Utah SB0097 amends the calculation of certified tax rates for property taxes and modifies public notification requirements for tax rate increases. It defines terms such as "additional ad valorem tax revenue" and "certified tax rate." The bill excludes certain valuation increases from the calculation of locally assessed new growth and excludes increases to the value of tangible personal property from the calculation. It also limits the total amount of additional property tax revenue a taxing entity may obtain through truth-in-taxation.