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House passes property-tax adjustment bill aimed at relieving homeowner tax shocks
Summary
Second Substitute HB 2-58 passed the House to create a floating levy mechanism for the uniform school fund, clarify state tax commission powers, and require a public notice after session; sponsors said the bill is intended as a homeowner 'shock absorber' amid rapidly rising property values.
The Utah House passed Second Substitute House Bill 2-58 on Feb. 22, 1995, a package intended to address rapid property-value increases and soften the tax impact on homeowners. Sponsors described the bill as one of the session's principal measures to respond to property-tax pressures.
Representative Homesaker, presenting the bill, said it does three primary things: it…
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