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Show Comp. O News Eile U Eox 6310 Lincoln, Neb, 60506 Bmmess Pys 6SJ V Property Owners of business property paid 65.6 of the total property tax bill in Grand County last year. Throughout the state slightly more than 50 of all property taxes charged during 1975 were collected from owners of commercial property. These were some of the facts reported by Utah Foundation, Foun-dation, the private tax research re-search organization in their latest study of Utah property taxes. According to the Foundation analysis, total property taxes charged in Grand County last year amounted to $1,499,814. Of this sum, the various classes of commercial and industrial property accounted for $984,448, or 65.6 of the total. Other property tax categories include residential property - $345,390 (23.0), motor vehicles - $72,253 (4.8), agricultural property -$31,892 (2.1), and miscellaneous miscel-laneous - $65,831 (4.4). Part of the property tax collected on motor vehicles and miscellaneous miscellan-eous property represents taxes on business and industry and part on individuals. Throughout the State, property pro-perty taxes charged during 1975 totaled $208,132,348. This represented an increase of $27 million, or 14.9 over the 1974 total. The report notes that all of this gain can be accounted for by new properties being added to the tax rolls and by increases in existing valuation under the state wide equalization program. pro-gram. Last year Cache, Weber, Davis, and Grand Counties were revalued and increases in land assessments were imposed in Salt Lake County. Actually, the overall average aver-age mill rate imposed in Utah during 1975 declined for the fourth consecutive year. Foundation Foun-dation analysts hasten to point out, however, that this decline in the average mill rate does, not necessarily mean that there has been a reduction in the property taxes paid by many individuals and business concerns. In many instnaces, the reduction in the tax rate was more than offset by increases in property assessments. assess-ments. This is particularly true in the counties that were revalued under the five-year reappraisal program. More than 60 of the property taxes collected in Utah is used for the support of local schools. Last year, school taxes levied in Utah totaled $126.5 million, or 60.8 of the total.' In addition to the property tax, public schools receive all of the state individual and corporate income in-come tax plus a substantial portion of the sales tax through transfers from the general fund. In 1975, county governments govern-ments imposed $41.9 million in property taxes. This was equal to about 20.1 of all property taxes levied. Other recipients of property tax revenue include municipalities - $26.4 miliion (12.7 of the total), special improvement districts - $13.2 million (6.4), and bounty and animal disease control levies - $152,505 (0.1). Although the schools continue contin-ue to receive the bulk of all property tax receipts, the largest percentage increases in recent years have been by special improvement districts. The Foundation study observes ob-serves that property taxes levied by special improvement districts have risen by 195 over the past five years. This compares with property tax increases of 92 for counties, 61 for cities and towns, and 59 for public schools during this same five-year period. The rapid growth in special district taxes is a reflection of the population expansion in unincorporated urban areas, especially along the Wasatch Front. |
