Show I Assessment ratio averages I II I 1193 1 olF 43 S SQ Q Q in Uintah County The assessment ratio of all locally assessed property In Uintah County averaged 1193 percent during 1977 This fact was reported by Utah Foundation the private tax research organization In their analysts of an sales assessment-sales ratio study recently prepared by the State Tax Commission Duchesne County averaged percent percent per per- cent and Daggett County 1868 percent in the report The study shows that assessment levels of locally-assessed locally property throughout the State last year averaged 1280 1288 percent and ranged from a low of percent in Sanpete County to a high of 1895 percent in Juab County Sanpete Sanpete Sanpete San- San pete County never has been revalued under the wide state-wide reappraisal program while Juab County was revalued in 1976 Property in Uintah County was reassessed in 1973 According to the Foundation report property assessment ratios have been declining generally despite the fact that the first cycle of the revaluation program has been completed in 25 of Utah's 29 counties Assessment levels in Utah have declined from an average of 1798 percent In 1967 to 1288 percent In 1977 FOUNDATION analysts point out that the effect of the property revaluation program has been to equalize assessments among individual properties and to raise assessment levels in the counties that are arc revalued During recent years real estate values have been rising faster than the assessment changes As a result the overall average wide state-wide level of assessment has been declining The Initial aim of the revaluation program was to equalize the general level of local assessments at about 20 percent of fair market value In general the program has come reasonably close to achieving this 20 percent objective at least in the initial stages following revaluation However because of inflation and rapidly changing property values the initial equal equalization results soon become outdated Still to be completed in the first cycle of the reappraisal program are Carbon Salt Lake Inke Sanpete and Sevier Counties New valuations are scheduled to be placed on the tax lax tolls rolls this year 1978 in Salt Lake County with the other three counties scheduled for completion by 1979 1919 If the 20 percent valuation objective objective ob ob- ob is achieved the increase in Salt Lake County local assessments would average 82 percent Legislation enacted last year will delay implementation of new assessed values that will be developed during the second cycle of the reappraisal program until after the work is completed completed com com- in all nil 29 counties of the state stale Local assessors however will be required to maintain their local ratios of assessment to fair market value Presumably this moans means that local assessors will be required to make adjustments each year to prevent further slippage of assessment ratios |