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House raises damage threshold and approves tax relief for disaster-damaged property
Summary
The House passed House Bill 324, allowing county boards to reduce taxable value for property damaged by natural disasters; lawmakers amended the damage threshold to 40% (replacing a proposed 30% and alternative 50%) and the bill passed 70–0.
The Utah House approved House Bill 324 Tuesday to let county boards of equalization reduce taxable value for property that sustains damage from natural disasters, prorating taxes for the portion of the year after the damage occurred. Representative Bradley Last, the bill’s sponsor, explained the change is an ‘‘apportionment bill’’ allowing owners to apply for a reduction in taxable valuation when damage occurs mid-year.
The House’s debate focused on the qualifying damage threshold used to trigger…
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