| OCR Text |
Show 1901 actions eouso Adjustments ordered by the State Tax Commission and the 1981 Utah Legislature Legis-lature will result in a shifting shift-ing of local property taxes among the several counties of the state. Actions taken this year have resulted in termination of the statewide reappraisal program; application of adjustment ad-justment factors among the several counties in order to achieve greater assessment quality; a 20 reduction in local assessments in order to offset the effect of the adjustment ad-justment factors; a 6 limit on property tax increases by local units following the adjustments, ad-justments, and a slight reduction re-duction in the basic school levy. The net effect was calculated cal-culated to leave total property prop-erty taxes throughout the state at about the same level that would have prevailed had no change been made. The adjustments ordered by the Tax Commission this year should improve equalization equali-zation among the several counties of the state but will not completely eliminate the county variations. While equalization among counties may improve because be-cause of the adjustment factors fac-tors being applied, equalization equaliza-tion of property within counties coun-ties is likely to suffer in the years ahead. As a result of the administrative ad-ministrative and legislative legisla-tive changes made this year local property assessments in Utah were reduced as much as 21 in some counties coun-ties and increased as much as 140 in others because of variations in assessment -sales ratios. Actual property taxes im -posed, of course, depend not only on the assessed valuation valu-ation determined, but also the combined mill levies imposed im-posed by the several local taxing units IJils month. In counties where the assessments assess-ments are raised by 10 or more, local levies must be lowered so that the anticipated an-ticipated yield from the property tax will not exceed 1-6 of the yield for the previous year. This limitation limi-tation does not apply to new construction nor , to levies for the basic school program and for the retirement of bonded debt. |
