Utah Admin. Code R123-6-3 - Disbursements
1. To receive
disbursements from the Fund, a county shall:
a. Annually submit to UGRC, no later than
December 31, its most recent GIS parcel data used for the property assessment
for the current calendar year;
b.
Provide the requested intermediate assessment book data conforming to the
Assessor Data Request List for evaluation of the county's mass appraisal system
by June 9 of each year; and
c.
Comply with the statutory requirement of mass appraisal and in-depth review
described in Section
59-2-303.1.
2. Subject to Subsection (3), the
disbursement to eligible counties of monies held in the Fund shall be
determined based on the following:
a. Sixth
class counties whose respective combined levy exceeds the mean of the combined
levies of all counties shall receive an amount from the Fund equal to 80% of
the amount calculated when multiplying the county's Proposed Tax Rate Value, as
calculated by Utah State Tax Commission, by the portion of their combined rate
that exceeds the mean rate;
b.
Fifth class counties whose respective combined levy exceeds the mean of the
combined levies of all counties shall receive an amount from the Fund equal to
50% of the amount calculated when multiplying the county's Proposed Tax Rate
Value, as calculated by Utah State Tax Commission, by the portion of their
combined rate that exceeds the mean rate;
c. Fourth class counties whose respective
combined levy exceeds the mean of the combined levies of all counties shall
receive an amount from the Fund equal to 20% of the amount calculated when
multiplying the county's Proposed Tax Rate Value, as calculated by Utah State
Tax Commission, by the portion of their combined rate that exceeds the mean
rate but not to exceed 0.000100; and
d. a sixth class county shall not receive
less than $20,750 annually from the Fund.
3. If available monies held in the Fund are
not sufficient to cover amounts calculated in Subsection (2):
a. Full distributions shall be made to sixth
class counties;
b. Distributions to
fourth and fifth class counties shall be reduced on a pro-rata basis based on
monies available after the distributions in Subsection (3)(a); and
c. Notwithstanding Subsection (3)(b), fourth
and fifth class counties who have received previous distributions shall receive
distributions which minimize reductions compared to previous year
distributions.
4. If
available monies held in the Fund exceed amounts calculated in Subsection (2),
distributions shall be increased on a pro-rata basis.
5. The Office shall authorize these
disbursements on an annual basis.
Notes
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