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Show Property taxes over 2 million in Iron County for last year Foundation report shows that school property taxes amounted to $103,154,448, or 60.4 percent of all property taxes imposed last year. In addition to the property tax, public schools receive all of the state individual and corporate cor-porate income tax revenue along with a sizable portion of state general sales tax revenue Although the property tax commonly is regarded as a tax charged to homeowners, more than half of all property taxes imposed in Utah last year was paid by owners of commercial and industrial property. This was pointed out by Utah Foundation, the private tax research organization, in their latest analysis of the property tax. The Foundation report, which was based on data gathered by the Utah State Tax Commission, shows that total state and local property taxes levied throughout Utah during 1973 amounted to Commercial and industrial property accounted for $1,285,025 or 55.6 percent of this total, residential property was equal to $623,299 (27.0 percent), agricultural property - $235,110 (10.2 percent), motor vehicles --$137,092 --$137,092 ( 5.9 percent), and all other property -- $30,332 (1.3 percent). Total property taxes imposed in Utah last year rose by $1,433,223, or 0.8 percent. According to the Foundation report, all of this gain can be accounted for by new property added to the tax rolls and by increases in existing valuations. Actually, the average (through transfers from the general fund to the uniform school fund.) Although the public schools receive the bulk of the property tax receipts, levies by special improvement districts and by counties have been rising more rapidly than those imposed for other purposes during recent years. Between 1968 and 1973, for example, property taxes increased in-creased 72 percent for special improvement districts and 39 percent for county purposes. The Foundation observes that "this rapid growth probably is a reflection of the above-average ' population expansion in the k unincorporated areas, especially ' along the Wasatch Front." School property taxes, on the other hand, have risen about 18 percent during this same five-year five-year period. The report points out, however, that the public schools have been receiving increasing amounts from non-property non-property tax sources in recent years. Property taxes levied by municipalities (cities and towns) increased about 25 percent, which is approximately the same increase recorded for all property taxes in Utah during the 1908-1973 period. tax rate in Utah declined from 82.04 mills in 1972 to 79.48 mills in 1973, a reduction of 2.56 mills. The 1973 average statewide rate for Utah is the lowest since 1964. Foundation analysts point out that the recent reductions in overall mill rates do not necessarily guarantee corresponding reductions in total property taxes paid by individuals in-dividuals and business concerns. In some instances, the reductions in tax rates are more than offset by increases in assessed valuations. This is especially true in those counties which have been revalued under the five-year reappraisal program. Most of the property tax revenue in Utah is used for the support of the public schools. The $170,641,107. The various identifiable iden-tifiable classes of commercial and industrial property accounted ac-counted for $83,792,115, or 49.1 percent of this total. On the other hand, residential property taxes equaled $62,034,698, or 36.4 percent of the total, and agricultural property taxes were $8,284,357, or 4.9 percent of the total. In addition to these major categories, property taxes on motor vehicles amounted to $13,942,769 (8.2 percent of the total), and miscellaneous property taxes equaled $2,587,168 (1.5 percent of the total). Motor vehicles include commercial trucks and business vehicles as well as passenger cars and farm trucks. A significant part of the miscellaneous category also consists of taxes on business items. There is considerable variation among Utah's 29 counties in the proportion of property taxes coming from the various property sources, according to the Foundation. In Iron County last year, total property taxes levied amounted to $2,310,858. |