Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Finance topic
No spam. Unsubscribe anytime.
State tax commission briefing: Millard County’s assessed values rise; certified tax rate would fall about 6.6% absent local changes
Summary
A State Tax Commission briefing June 3 showed Millard County’s assessed values rose sharply this cycle, producing a provisional certified county tax rate of about 0.002516 — a roughly 6.6% reduction from 2024’s 0.002695 if the county adopts the certified rate.
A State Tax Commission representative briefed the Millard County Commission on June 3 about the county’s assessed value increases and the effects on the county’s certified property-tax rate.
The presenter said Millard County’s total assessed values are “just over $2 billion” this year, with increases attributed to three components: about $258 million in locally assessed real-property value increases, roughly $948 million in centrally assessed value changes and about $157 million in personal property. The speaker said those increases, together with statutory adjustments, produce a certified county tax rate of about 0.002516 for 2025 under the commission’s calculation, down from the 2024 rate of 0.002695 — a reduction of about 6.64 percent.
Tax staff explained how the rate is calculated: the county’s prior-year levy is divided by current-year values after adjustments for collection rate and board-of-equalization changes. The presenter said the county’s collection rate used in the calculation was about 97.3 percent.
Commissioners asked for follow-up details. Several requested a residential-impact example and a breakdown of how much of the value increase came from residential versus commercial or centrally assessed property. The presenter said the centrally assessed calculation had been moved to a three‑year benchmark (rather than a 2015 high- water mark), which materially increased centrally assessed growth this year.
Commissioners also discussed a recent state law (referred to in the meeting as SB 295) that, in their description, allows counties to adopt a lower base for a limited period; county officials asked how the law would affect their options and whether adopting a lower certified rate this year would limit future flexibility. The presenter said he would research how the five‑year provision would apply and provide details to county staff.
No tax rate was adopted at the meeting; staff said the statutory certification deadlines for setting the county rate fall in June, and they will return with residential impact figures and any clarifications about SB 295 before the commission sets a final rate.
