Utah Admin. Code R884-24P-71 - Agreements with Commercial or Industrial Taxpayers for Equal Property Tax Payments Pursuant to Utah Code Ann. Section 59-2-1308.5
(1) An agreement with a commercial or
industrial taxpayer for equal property tax payments under Section
59-2-1308.5
is effective:
(a) the current calendar year,
if the agreement is agreed to by all parties on or before May 31; or
(b) the subsequent calendar year, if the
agreement is agreed to by all parties after May 31.
(2) An agreement under Subsection (1) affects
only those taxing entities that are a party to the agreement.
(3) The commission shall ensure that an
agreement under Subsection (1) does not affect the calculation of the certified
tax rate by adjusting the formula under Section
59-2-924
so that the collection ratio for each taxpayer that is a party to the agreement
is based on the amount that would have been collected according to the same
valuation and assessment methodologies that would have been applied in the
absence of the agreement.
Notes
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