59-2-1602. Property Tax Valuation Fund -- Statewide levy -- Additional county levy.

845 words·~4 min read·/ut/title-59/chapter-2/59-2-1602

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

Effective 1/1/2026

(a)There is created a custodial fund in the Division of Finance known as the "Property Tax Valuation Fund."

(b)The fund consists of:

(i)deposits made and penalties received under Subsection (4);

(ii)interest on money deposited into the fund;

(iii)appropriations from the Legislature;

(iv)the statewide property tax system and statewide web portals, including intellectual property rights; and

(v)the database.

(i)Subject to Subsection (1)(c)(ii) , the Division of Finance shall allocate money in the fund for the calendar year to the program manager:

(A)after the Division of Finance determines that the budget submitted in accordance with Section 59-2-1605 contains proposed expenses for a use described in Subsection 59-2-1606(4) ; and

(B)for revenue the Division of Finance receives after the Division of Finance makes the determination in accordance with Subsection (1)(c)(i) (A), within 30 days after receipt of the money.

(ii)The Division of Finance may retain an amount equal to the cost of making the determination described in Subsection (1)(c)(i)

(A)before making an allocation.

(d)Subject to the requirements of this section, the program manager shall have:

(i)sole authority to:

(A)determine expenditure of revenue the Division of Finance allocates to the program manager, including provision of property valuation services within counties; and

(B)oversee the maintenance and enhancement of a statewide property tax system, including statewide web portals, that meets the requirements of this section; and

(ii)control over the property described in Subsections (1)(b)(iv) , (1)(b)(v), and

(2)for the purpose and uses described in this section.

(e)The program manager may spend money the Division of Finance allocates to the program manager only for STATS.

(2)The following assets are transferred to the program manager to use for STATS:

(a)tangible personal property purchased, in whole or in part, with revenue from the multicounty assessing and collecting levy, including property acquired before May 6, 2026; and

(b)unexpended revenue that is:

(i)obtained from the multicounty assessing and collecting levy or for the performance of the duties described in this section, including revenue acquired before May 6, 2026; and

(ii)within the control of the program manager.

(a)Each county shall annually impose a multicounty assessing and collecting levy as provided in this Subsection (3).

(b)The tax rate of the multicounty assessing and collecting levy is the certified revenue levy rounded up to the sixth decimal place.

(c)The state treasurer shall allocate all revenue collected from the multicounty assessing and collecting levy to the Multicounty Appraisal Trust.

(a)The county shall state separately the multicounty assessing and collecting levy on the tax notice as a multicounty assessing and collecting levy.

(b)The multicounty assessing and collecting levy is:

(i)exempt from Sections 17C-1-403 through 17C-1-406 ;

(ii)in addition to and exempt from the maximum levies allowable under Section 59-2-908 ; and

(iii)exempt from the notice and public hearing requirements of Section 59-2-919 .

(i)Each county shall transmit quarterly to the state treasurer the revenue the county collects from the multicounty assessing and collecting levy.

(ii)The county shall transmit the revenue described in Subsection (4)(c)(i) no later than the tenth day of the month following the end of the quarter in which the county collects the revenue.

(iii)If a county transmits revenue described in Subsection (4)(c)(i) after the tenth day of the month following the end of the quarter in which the county collects the revenue, the county shall pay an interest penalty at the rate of 10% each year until the county transmits the revenue.

(iv)The state treasurer shall deposit the revenue and penalties described in this Subsection

(4)into the fund.

(a)A county may levy a county additional property tax in accordance with this Subsection (5).

(b)The county additional property tax:

(i)shall be separately stated on the tax notice as a county assessing and collecting levy;

(ii)may not be incorporated into the rate of any other levy;

(iii)is exempt from Sections 17C-1-403 through 17C-1-406 ; and

(iv)is in addition to and exempt from the maximum levies allowable under Section 59-2-908 .

(c)A county shall use revenue collected from the county additional property tax to:

(i)promote the accurate valuation and uniform assessment levels of property as required by Section 59-2-103 ;

(ii)promote the efficient administration of the property tax system, including the costs of assessment, collection, and distribution of property taxes;

(iii)fund state mandated actions to meet legislative mandates or judicial or administrative orders that relate to promoting:

(A)the accurate valuation of property; and

(B)the establishment and maintenance of uniform assessment levels within and among counties; and

(iv)establish reappraisal programs that:

(A)are adopted by a resolution or ordinance of the county legislative body; and

(B)conform to rules the commission makes in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act .

Amended by Chapter 274 , 2026 General Session