53G-3-304. Property tax levies in new district and reorganized new district -- Distribution of property tax revenue.

438 words·~2 min read·/ut/title-53g/chapter-3/53g-3-304

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

Effective 5/1/2024

(1)As used in this section:

(a)"Property tax levy" means a property tax levy that a school district is authorized to impose, except:

(i)the minimum basic tax rate imposed under Section 53F-2-301 ;

(ii)a debt service levy imposed under Section 11-14-310 ;

(iii)a judgment levy imposed under Section 59-2-1330 ; or

(iv)charter school tax rate.

(b)"Qualifying taxable year" means the calendar year in which a new district begins to provide educational services.

(2)A new school district and reorganized new school district shall continue to impose property tax levies that were imposed by the divided school district in the taxable year before the qualifying taxable year.

(3)Except as provided in Subsection (6), a property tax levy that a new school district and reorganized new school district are required to impose under Subsection

(2)shall be set at a rate that:

(a)is uniform in the new school district and reorganized new school district; and

(b)generates the same amount of revenue that was generated by the property tax levy within the divided school district in the taxable year before the qualifying taxable year.

(4)The county treasurer of the county in which a property tax levy is imposed under Subsection

(2)shall distribute revenues generated by the property tax levy to the new school district and reorganized new school district in proportion to the percentage of the divided school district's enrollment on the October 1 before the new school district or reorganized new school district commences educational services that were enrolled in schools currently located in the new school district or reorganized new school district.

(5)On or before March 31, a county treasurer shall distribute revenues generated by a property tax levy imposed under Subsection

(2)in the previous calendar year to a new school district and reorganized new school district as provided in Subsection (4).

(a)Subject to the notice and public hearing requirements of Section 59-2-919 , a new school district or reorganized new school district may set a property tax rate higher than the rate required by Subsection (3), up to:

(i)the maximum rate, if any, allowed by law; or

(ii)the maximum rate authorized by voters for a voted local levy under Section 53F-8-301 .

(b)The revenues generated by the portion of a property tax rate in excess of the rate required by Subsection

(3)shall be retained by the district that imposes the higher rate.

Amended by Chapter 526 , 2024 General Session