OCR Text |
Show UTAH FOUNDATION Property Tax Increase Expected on Wasatch Front Report Indicates Many property owners In the even Wasatch front counties will receive an upward adjustment adjust-ment in their 1964 property assessments as-sessments according to a study just released by Utah Foundation, Founda-tion, the non-profit tax research organization. A new equalization program which will go into effect In Salt Lake County Xh year was also scheduled for the other Wasatch front counties of Box Elder, Davis, Da-vis, Cache, Tooele and Utah in 1964, the Foundation reports. Instead, In-stead, increases will be applied In these other counties this year The other 22 counties of the state including all of southern Utah will not be affected by the ' changes this year. The evaluation report further points out that commercial and Industrial properties in Utah have been assessed at a higher percentage of market value than has residential propeity. Latest sales ratio data shows that in 1963 improved property In Utah was being assessed at about 15.7 of its market value, with county averages ranging from less than 15 in a few of the counties to more than 20 In others. The Foundation report notes that Utah generally assess-e assess-e Its property at a much lower percentage of market value than most other states. A recent report re-port of the 1962 census of government gov-ernment shows that the average assessment ratio for non-farm property in Utah was less than half of that from the nation as a whole. |