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Show PROPERTY TAXES LOW FOR RESIDENCES BUT HIGH FOR BUSINESS IN UTAH Although the property tax in Utah tends to be low for residential and farm prop-actjvJLtisJiigh. prop-actjvJLtisJiigh. Jfy commer- nast coi i i jMflstw ffir, v-..s, (reached by tTiflli Foundaiioa, ' the private tax research organization, or-ganization, In their latest; study of the property tax burden on Individuals and business. The Foundation report points out that a recent nationwide na-tionwide survey by the U. S. Advisory Commission on Intergovernmental In-tergovernmental Relations reveals that Utah's property tax burden on residential property is 35 below the U. S. average by the "income "in-come test" and 26 under the national average by the "value test." The "Income test" relates property tax payments on residential property to the Income of the persons occupying such dwellings. The "value test" compares property taxes on residential property with the market value of such property. prop-erty. An earlier nationwide study by the Advisory Commission Com-mission on filter governmental govern-mental relations pointed out that while the relative Utah property tax effort in 1966-67 1966-67 was 25 below the U. S. average for nonfarm residential resi-dential property and 28 below be-low for farm property, It was 24 above the national average for commercial and industrial property. Foundation analysts attribute at-tribute this disparity between be-tween residential and business busi-ness property taxes to the lack of uniformity in assessment assess-ment ratios among the various var-ious classes of property in Utah. Latest Tax Commis- sion sales -ratio studies indicate, in-dicate, for example, that residential re-sidential property throughout through-out the state is assessed at about 15.8 of market value with farm property being assessed as-sessed at 10.4 of selling price. Utility and railroad properties, which are assessed as-sessed by the State, are valued val-ued at about 26 of recognized recog-nized value. Furthermore, mining property is assessed on the basis of "net pro ceeds" which automatically reflects higher metal prices and increased production. Contrary to popular belief, be-lief, the property tax In Utah is not primarily a tax on homeowners. The Foundation Founda-tion study shows that business busi-ness taxes in Utah comprise 54 of all property tax collections col-lections In Utah as opposed to the U. S. average of 52. F arm taxes are equal to 5 of total property taxes In Utah and 6 in the nation. i |