53F-3-102. Definitions.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/8/2018

As used in this chapter:

(1)"ADM" or "pupil in average daily membership" is as defined in Section 53F-2-102 .

(2)"Base tax effort rate" means the average of:

(a)the highest combined capital levy rate; and

(b)the average combined capital levy rate for the school districts statewide.

(3)"Combined capital levy rate" means a rate that includes the sum of the following property tax levies:

(i)the debt service levy authorized in Section 11-14-310 ; and

(ii)the voted capital outlay leeway authorized in Section 53F-8-402 ; or

(i)the capital local levy authorized in Section 53F-8-303 ; and

(ii)the debt service levy authorized in Section 11-14-310 .

(4)"Derived net taxable value" means the quotient of:

(a)the total property tax collections from April 1 through the following March 31 for a school district for the calendar year preceding the March 31 date; divided by

(b)the school district's total tax rate for the calendar year preceding the March 31 referenced in Subsection (4)(a) .

(5)"Highest combined capital levy rate" means the highest combined capital levy rate imposed by a school district within the state for a fiscal year.

(6)"Property tax base per ADM" means the quotient of:

(a)a school district's derived net taxable value; divided by

(b)the school district's ADM.

(7)"Property tax yield per ADM" means:

(a)the product of:

(i)a school district's derived net taxable value; and

(ii)the base tax effort rate; divided by

(b)the school district's ADM.

(8)"Statewide average property tax base per ADM" means the quotient of:

(a)the sum of all school districts' derived net taxable value; divided by

(b)the sum of all school districts' ADM.

Renumbered and Amended by Chapter 2 , 2018 General Session

Amended by Chapter 456 , 2018 General Session