Show Property Tax on onH H Homeowners in inVernal inVernal inVernal Vernal Told Property taxes on homeowners in Vernal Vernal Vernal Ver Ver- nal averaged 1196 per 1000 of or value last year according to a study prepared by Utah Foundation the private tax organization THE FOUNDATION calculated the average property tax load in the 53 Utah communities with a population of 2500 or more According to the study the property tax load ranged from a high of of- 1659 per 1000 of sales value in Salt Lake City to a low of 1038 per 1000 of sales value in Logan Vernal ranked n no no 48 among the 53 Utah communities communities communities com com- cited by the Foundation For Forthe Forthe Forthe the state as a whole property taxes on residential property averaged 1397 per 1000 of sales value during 1972 Property taxes levied against a parcel of property are determined by two sep- sep erate cerate factors 1 the assessment t of valuation valuation valuation val val- placed on the property for tax purposes and 2 the total mill levy imposed imposed im im- im posed by the various units of government government govern govern- ment applying to the area in wl which ch the property is located Both of these factors were considered by the Foundation Foundation Foundation tion in making their community com analysis of average property tax loads FOUNDATION ANALYSTS point out that the St State te Tax Commission currently is engaged in n a pr program gram de designed to to iron iron out the differences in valuation ratios This program to Ito upgrade the assessment procedure in Utah includes 1 the training and certification of all personnel engaged in reappraisal work and 2 the all real property property pro pro- perty in the state on a county-by-county county rotation basis Although property taxes have grown somewhat over the past decade the in- in I.- I. crease has been accompanied by a corresponding corresponding corresponding cor cor- responding rise in the market value of homes As a result the average taxes on residential property throughout the state has fluctuated somewhere between 1250 and 1600 1660 per 1000 of full market value BASED ON an analysis of a recent Federal Housing Administration report the Foundation concluded that property taxes paid by homeowners in Utah are lower than those paid in most of the the theother theother other states and 23 percent below the theUS the theUS US U.S. average averaged average In 1970 property taxes In Utah averaged 1499 per 1000 of selling price of FAH finances homes compared with a US U.S. average property tax load of 1942 per 1000 of selling price for units Utah ranked among the fifty states by this measure Most of the low property tax states are in the South while the l highest taxes are found in the Northeast and Midwest sections of the nation The average property property pro pro- pro y perty tax load for homeowners ranged from a high of per 1000 of value in to a low of f per 1 1000 of value in Louisiana a 1 r THE FOUNDATION report emphasized that these comparisons were based on onan onan onan an analysis of existing single-family single dwellings through the and do not necessarily apply to commercial commercial commercial com com- mercial and industrial properties In fact the report n notes tes that there is evidence that commercial and industrial property in Utah is assessed at a somewhat somewhat some some- what higher proportion of recognized value value value val val- ue than is residential property u HAO co J. J |