| Show utah tah economic and business review commercial and industrial prop erty in utah accounted for more than million or 61 of utah s assessed valuation in accord a ing to a research report released today by utah foundation the non profit tax research organization residential property made up million or 22 of the state total A agricultural gri cultural property valuation to tal million or 9 05 of the state total motor vehicles ere assessed at a total of 66 million accounting for 6 of all property subject to the property tax the remaining 9 mil hon of a state valuation totaling all of which were assessed in salt lake county for the most part 1104 consisted principally of household furnishings practically the practice of other counties of the state has to assume that furnish ings in owner occupied dwellings are covered by the statutory ecamp tion of applying to such furnishings the utah foundation report notes that this is the first year in which it has been possible to separate pro perty listed on the rolls by major economic groups prior to 1955 no distinction was made to the L tax ax rolls continued on page 4 I 1 VALUATION IN UTAH 1955 in millions of dollars commercial AND PROPERTY 1 verj r CLE OR M 74 8 6 8 0 1 0 C J I 1 I 1 r S 6 AP ts 0 A OA 0 00 6 0 0 X 00 0 f 0 N 0 en r aa COF 9 tv RES PROPERTY 0 0 24 33 of V arx I 1 0 06 0 J 0 av 0 0 C 0 00 O 0 c ra ac V oc 0 fg k 0 0 0 0 0 0 09 utah business continued from page 1 of utah between agricultural and industrial property in rural nor between residential and business property in urban areas in 1955 the utah state tax commission Com revised property tax classifications to pro vide information as to the source of property tax revenue it is hoped that the revised property classic atlon will aid policy and adm inist dative agencies by providing the answer to the question who pays the property tax in utah anabil ity to answer this question has hand the many studies which have haie been conducted to determine the equity of he utah tax structure the current tabulation of assessed valuations was made from reports submitted to the utah state tax co mission by the respective counties the utah code requires such rep orts to be submitted to the tax commission by the first monday in may however of the twenty nire assessor reports nineteen were filed late with tardiness ranging from several days up to seven mon seventeen of the county audit or reports due the first monday in july were late three of the report mg ing counties did not brov provide con corn breakdown breal down by economic econ C class specified by the report forms because of these difficulties data as to actual taxes respective acono mic grou groups ps in 1955 1951 are not yet corn com the proportions of taxes cha ageo will differ slightly from pro portions of assessed valuations because af 0 difference df ference in total property tax rates ua metropolitan and rural areas aras ar as complete information will likely not become available for sev eral months more than half of the business total million is located in salt lake county utah and weber counties rank second and third in the amount of commercial and in m dustral du assessed valuations how ever iron county has the highest proportion of its total valuation represented by proper properties tits which account for 84 3 of the iron county total with the exception of wayne rich and garfield counties all other counties have upward of ta of their property total in 1 the business patagones cata gones gorles the proportions of residential pro perfy perty range from 4 1 in morgan to 0 37 yi n davs davis counties rich county had hao the highest proportion of agricultural property with 72 only 16 of the salt lake county total Is agricultural despite the fact that its 9 million agricultural assessed value Is s fourth largest a zt in mong ong utah counties no segregation of motor vehicle ls valuation is made permitting their assignment to the respective acono mic groups motor vehicles subject to the property tax in totaled vehicles |
