During a recent government meeting, officials discussed the ongoing challenges surrounding property taxes in Utah, particularly the disparity in commercial and residential property valuations. The Wasatch Front Counties have established a Memorandum of Understanding (MOU) with commercial brokers to gather data, but the remaining 25 counties lack sufficient commercial data, complicating tax assessments.

Representatives highlighted the increasing burden of residential property taxes, noting that while residential property values have surged by 101% from 2016 to 2023, commercial property values have only risen by 70%. This discrepancy has led to a significant tax shift, with residential properties experiencing a disproportionate increase in taxes, accounting for approximately half of the total tax increase for homeowners.

Officials emphasized the need for improved transparency in the truth in taxation process, acknowledging that many taxing entities claim to hold rates without actually preventing tax increases. They expressed a commitment to work with the legislature to enhance public understanding of tax notifications and appeals processes.

The meeting underscored the importance of accurate assessments and a clear, formal process for property tax appeals, with officials pledging to collaborate with the legislature and the tax commission to address these issues effectively.