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Show ! Farm Valuation Changes Pend; T o Mesh With Reappraisal Plan liy ('. Sharp ; Assessed valuations of ,i-in binds including la.'iii'V mill pasture lainls '.n iv duo change raili- '.'i Hy throughout the state xt year. p,,- August 1, each huul -nor is 1 l,l notified as .losoil assessed vallia-n vallia-n under the ll.H"9 Croon 't Law to K'oonie effec-o effec-o noxt yoar. Ry October 1 the owner "Sn may apply for inolu. n in tho program. l!o I hv apply I'O days lator by living a late foe of i?25. 'V'lnior this now law, ag-ultural ag-ultural lands are as-;sod as-;sod on a basis of then-Kluctivity then-Kluctivity rather than I their market value. Haven Near Cities Those living oloso to an (loan area probably win I d it to their advantage use the productive val-nuher val-nuher than the speo-'"ative speo-'"ative value of their land. Possibly some in less-ul:ited less-ul:ited areas may find J.'-o.ir now valuations for xluetive use aotually exiled ex-iled valuations which PJve not kept pace with Illation. At any rate, the pro- Vt y owner should can;. l)re his Green Belt vaiu-on vaiu-on to be received by igust 1 with his assess-valuaticm assess-valuaticm for this year I.ich should be given him i his county assessor be- -e that time. This will jliJp him decide wheathor I go into the new pro-am. pro-am. ..To be eligible for inclus- fi, a property must con-n con-n a minimum of five ,5 ntinguous acres exclus-? exclus-? of homestead, been in ricultural use for a min. ) him of five years and Ve had a gross produc- -e revenue cf S500 a tfar- But the farmer cannot ep his land indefinitely in an urban aroa and expect ex-pect a huge "lulling "from salo for other purposes. A "rollback" provision re-iiuitvs re-iiuitvs hitn to pay taxes on tho difference botwoon his t;ixos under the Croon Holt program and what they would bo ii. now use when ho soi... A lion will bo recorded on his property when hi,' goes into the Croon Holt program, to Insure payment pay-ment of accumulated tax under tho higher valuation valua-tion for up to five years prior to sale. Meanwhile the State Tax Commission expects to complete reappraisals of all properties in 10 counties in time to go into tho tax rolls for 1972. These are Summit, Morgan, Mor-gan, Rich. Duchesne, Wayne, Wa-yne, Daggett, Garfield, Kane, Washington and Millard counties. Emery' Next Contracts have been completed for reappraisal work to begin in Mmery and Uintah counties within with-in about 60 days. Every county is to be reappraised . every fivn years. This is badly needed. G. Douglas Taylor, State Tax Commission member in charge of property tax, reports re-ports that farm properties now are assessed at an average! av-erage! of about 10.19 per cent i f market value. Residential land is assessed as-sessed at. an average of nb'jut, 17 per cent of market mar-ket value and commercial, industrial and other slate sla-te assessed properties are assessed at ai. average of 21!. 81 per ci:.: oi market value. "Windfall" Curb Legislators this year made sure that if the reappraisal re-appraisal program should result in a big valuation increase that counties and school districts do not Apply Ap-ply the same levies as in the past and reap a heavy increase in taxes. For the first time school districts will have to reduce re-duce their tax levies to compensate for increased valuations. This is provided provid-ed in SB173, the school 'bill, sponsored by Sens. Wilmer L. Barnott, R-Salt Lake, Ernest II. Dean, D-Anierican D-Anierican Fork, and Omar Bunnell, D-Price. Sons. Robert F. Clyde, R-IIeber City, and Kend-rick Kend-rick Ilarward, R-Richfield sponsored SP137 which prevents a county or city from collecting taxes more than 106 per cent of those cofected the previous yea r. Both bills mean that a reduction in tax levies must accompany an increase in-crease in property assessed assess-ed valuations. |