Senate advances fourth substitute of SB 194 to restructure statewide assessing levy, adopts 60/40 split

Summary

The Utah Senate on Feb. 24 adopted a fourth substitute of SB 194, changing how the statewide assessing levy is shared and directing the state tax commission to set assessment standards; debate focused on impacts for Utah County and potential splits (60/40 vs. alternatives). The bill was placed on the third-reading calendar.

Senator Lyle Hilliard, sponsor and chair of the Revenue and Tax Committee, presented and moved substitution of the fourth substitute to Senate Bill 194, saying the measure seeks to improve uniformity and accountability in property tax assessment and collection across Utah’s counties. He told the Senate the substitute ties redevelopment bonding issues after May 1, 1993, coordinates with House Bill 278 and changes how a state assessing levy is shared between a statewide pool and local counties.

The fourth substitute directs the State Tax Commission, working with county assessors, to adopt standards for acceptable assessment levels and valuation deviations and tasks an interim committee with periodic review. Hilliard said the bill changes the existing distribution of the state assessing levy so that 60% becomes a statewide-shared portion and 40% remains with local…

Senate advances fourth substitute of SB 194 to restructure statewide assessing levy, adopts 60/40 split

Summary

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