Tax Commission, Property Tax

Section R884-24P-14

Valuation of Real Property Encumbered by Preservation Easements Pursuant to Utah Code Ann. Section 59-2-303

Notice of Proposed Rule

(Amendment)

DAR File No.: 34880
Filed: 05/26/2011 11:32:42 AM

RULE ANALYSIS

Purpose of the rule or reason for the change:

The proposed amendment deletes unnecessary language.

Summary of the rule or change:

The proposed amendment deletes language requiring a property owner to submit a notice of a preservation easement to the Property Tax Division since this procedure has never been enforced.

State statutory or constitutional authorization for this rule:

• Section 59-2-303

Anticipated cost or savings to:

the state budget:

None--Property tax revenues are local revenues.

local governments:

None--Property tax revenues are local revenues.

small businesses:

None--Property tax revenues are local revenues.

persons other than small businesses, businesses, or local governmental entities:

None--Property tax revenues are local revenues.

Compliance costs for affected persons:

None--The deleted language has never been enforced.

Comments by the department head on the fiscal impact the rule may have on businesses:

None--The deleted language has never been enforced.

Michael Cragun, Commissioner

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Tax Commission
Property Tax
210 N 1950 W
SALT LAKE CITY, UT 84134

Direct questions regarding this rule to:

• Christa Johnson at the above address, by phone at 801-297-3901, by FAX at 801-297-3907, or by Internet E-mail at [email protected]

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

07/15/2011

This rule may become effective on:

07/22/2011

Authorized by:

Michael Cragun, Tax Commissioner

R884. Tax Commission, Property Tax.

R884-24P. Property Tax.

R884-24P-14. Valuation of Real Property Encumbered by Preservation Easements Pursuant to Utah Code Ann. Section 59-2-303.

[A.](1) The assessor shall take into consideration any preservation easements attached to historically significant real property and structures when determining the property's value.

[B.](2) After the preservation easement has been recorded with the county recorder, the property owner of record shall submit to the county assessor [and the Tax Commission] a notice of the preservation easement containing the following information:

[1.](a) the property owner's name;

[2.](b) the address of the property; and

[3.](c) the serial number of the property.

[C.](3) The county assessor shall review the property and incorporate any value change due to the preservation easement in the following year's assessment roll.

 

KEY: taxation, personal property, property tax, appraisals

Date of Enactment or Last Substantive Amendment: [December 15, 2010]2011

Notice of Continuation: March 12, 2007

Authorizing, and Implemented or Interpreted Law: Art. XIII, Sec 2; 9-2-201; 11-13-302; 41-1a-202; 41-1a-301; 59-1-210; 59-2-102; 59-2-103; 59-2-103.5; 59-2-104; 59-2- 201; 59-2-210; 59-2-211; 59-2-301; 59-2-301.3; 59-2-302; 59-2-303; 59-2-303.1; 59-2-305; 59-2-306; 59-2-401; 59-2-402; 59-2-404; 59-2-405; 59-2-405.1; 59-2-406; 59-2-508; 59-2-515; 59-2-701; 59-2-702; 59-2-703; 59-2-704; 59-2-704.5; 59-2- 705; 59-2-801; 59-2-918 through 59-2-924; 59-2-1002; 59-2-1004; 59-2-1005; 59-2-1006; 59-2-1101; 59-2-1102; 59-2-1104; 59-2-1106; 59-2-1107 through 59-2-1109; 59-2-1113; 59-2-1115; 59-2-1202; 59-2-1202(5); 59-2-1302; 59-2-1303; 59-2-1317; 59-2-1328; 59-2-1330; 59-2-1347; 59-2-1351; 59-2-1365