Proposed Study Plan: Utah Property Tax System

The Revenue and Taxation Interim Committee has provided a schedule of meetings to examine the property tax system in Utah for this year. Our representative Gage Froerer (gfroerer@utah.gov) suggests than all interested taxpayers participate.

This is an opportunity for taxpayers to learn about the property tax system and possibly participate in any improvements or changes that may come from these meetings.

Proposed Study Plan: Utah's Property Tax System
Tentative Proposed Extra Meeting Dates

April 16, 2008 Draft

I. Overview of Utah's Property Tax System -- April 16th (interim day)
A. Constitutional Provisions
B. History
C. Base and Rates
D. Truth in Taxation
E. Comparisons with Other States
F. Property Tax Relief
G. Review of Previous Legislative Studies

II. Rates --
A. Review of Existing Rate Authority and Levels
1. Property Tax Authority of Elected and Appointed Officials
B. The _Truth in Taxation_ Property Tax Rate Setting Process
1. County and Other Local Government Officials
2. Utah State Tax Commission
3. Ways to improve and facilitate public involvement in the process

III. Base -- May 21st (interim day) & June 4th (tentative extra meeting)
A. Fair Market Value
B. Exemptions
1. Use
2 Ownership
C. Aquisition Date Value
D. Percent of Fair Market Value
E. Fair Market Value as of a Certain Date
F. Base and Revenue Volatility
G. Other Base Options

IV. Administration -- June 18th (interim day)
A. Assessing standards and practices
1. County Assessors
2. Utah State Tax Commission
B. Tools for appraising Fair Market Value
1. Disclosure of sales price
2. Hedonic Price Models/Computer Assisted Mass Appraisal Systems
3. Collecting and updating property characteristics
4. Other tools
C. Collection and Compliance
D. Assessing and Collecting Levy/Funding Issues
E. Property Tax Relief Programs

V. Incidence -- August 6th (tentative extra meeting)
A. Alternative Theories
B. Incidence for Utah Households
C. Business Property

VI. Options for Changes to Utah's Property Tax System -- August 20th (interim)

VII. Other Issues -- To Be Scheduled

Future Interim Meeting Dates and Proposed Extra Meetings Dates:
September 3rd (tentative extra meeting)
September 17th (interim)
October 1st (tentative extra meeting)
October 15th (interim)
November 19th (interim)