Utah Admin. Code R884-24P-29 - Taxable Household Furnishings Pursuant to Utah Code Ann. Section 59-2- 1113
(1) Except as
provided in Section
59-2-1115,
household furnishings, furniture, and equipment are subject to property
taxation if:
(a) the owner of the dwelling
unit commonly receives legal consideration for its use, whether in the form of
rent, exchange, or lease payments; or
(b) the dwelling unit is held out as
available for the rent, lease, or use by others.
(2) Household furnishings, furniture, and
equipment that meet the definition of qualifying exempt primary residential
rental personal property in Section
59-2-102:
(a) qualify for the primary residential
exemption under Section
59-2-103;
and
(b) are valued for tax under
this chapter by:
(i) calculating the value of
the personal property using the tables in Tax Commission rule
R884-24P-33;
and
(ii) multiplying the value
calculated under Subsection (2)(b)(i) by 0.55.
Notes
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