DAR File No. 38057

Tax Commission, Property Tax

Section R884-24P-29

Taxable Household Furnishings Pursuant to Utah Code Ann. Section 59-2-1113

Notice of Proposed Rule

(Amendment)

DAR File No.: 38057
Filed: 10/10/2013 11:40:43 AM

RULE ANALYSIS

Purpose of the rule or reason for the change:

The proposed amendment updates the section to match statutory changes made in H.B. 67 in the 2013 General Legislative Session.

Summary of the rule or change:

The proposed amendment clarifies that household furnishings, furniture, and equipment that meet the definition of qualifying exempt primary residential rental personal property under Section 59-2-102 qualify for the primary residential exemption and are valued for property tax purposes by calculating the value of the personal property using the tables in Section R884-24P-33 and multiplying that value by 0.55.

State statutory or constitutional authorization for this rule:

• Section 59-2-1113

Anticipated cost or savings to:

the state budget:

None--Property tax revenues are local revenues.

local governments:

None--Any fiscal impact was considered in H.B. 67 (2013).

small businesses:

None--Any fiscal impact was considered in H.B. 67 (2013).

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

None--Any fiscal impact was considered in H.B. 67 (2013).

Compliance costs for affected persons:

None--The proposed change provides guidance for county assessors on how to value qualifying exempt primary residential rental personal property.

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

This proposed change should have no fiscal impact since it was considered in H.B. 67 (2013).

Robert Pero, 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 cj@utah.gov

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:

12/02/2013

This rule may become effective on:

12/09/2013

Authorized by:

Robert Pero, Commissioner

R884. Tax Commission, Property Tax.

R884-24P. Property Tax.

R884-24P-29. Taxable Household Furnishings Pursuant to Utah Code Ann. Section 59-2-1113.

[A.](1) [Household]Except as provided in Section 59-2-1115, household furnishings, furniture, and equipment are subject to property taxation if:

[1.](a) the owner of the [abode]dwelling unit commonly receives legal consideration for its use, whether in the form of rent, exchange, or lease payments; or

[2.](b) the [abode]dwelling unit is held out as available for the rent, lease, or use by others.

(2) Household furnishings, furniture, and equipment that meet the definition of qualifying exempt primary residential rental personal property in Section 59-2-102:

(a) qualify for the primary residential exemption under Section 59-2-103; and

(b) are valued for tax under this chapter by:

(i) calculating the value of the personal property using the tables in Tax Commission rule R884-24P-33; and

(ii) multiplying the value calculated under Subsection (2)(b)(i) by 0.55.

 

KEY: taxation, personal property, property tax, appraisals

Date of Enactment or Last Substantive Amendment: [February 21, ]2013

Notice of Continuation: January 3, 2012

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; 59-2-514; 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; 59-2-1308.5; 59-2-1317; 59-2-1328; 59-2-1330; 59-2-1347; 59-2-1351; 59-2-1365; 59-2-1703