The question is asked; why is it so important to change the property tax law now and what is wrong with it?
To answer this important question;
Click here: Change Utah Property Tax laws
Can we do anything about our Property Taxes?
Over the last couple years many residents of Utah especially Ogden Valley which is in Weber County have seen their taxes increase at exorbitant rates. These taxpayers want to know what they can do to put a check on these increases. This website was created for the purpose to inform taxpayers of options the Utah legislature is considering. However what the legislature does may depend on what they hear from you. I encourage you to write your legislature. First review the information provided by this web page explaining what are the property tax problems and what can be the solutions to them.
Then contact your representative by clicking here: Contact my Utah legislative representatives
What is market value? It is the worth of the property on today’s market. This is what Utah property taxes are based on today which is mandated by the Utah State Constitution.
What is acquisition value? Acquisition value is the amount one pays when you acquire property. If Utah goes to acquisition value system your property taxes would be based on the amount you brought your property for with a small increase each year based on Utah's needs and that would always be the case.
What kind of property tax change is the Revenue and Taxation Interim Committee considering?
What is the Revenue and Taxation Interim Committee? The Utah State Legislator knows of the propery tax problem and had the Revenue and Taxation Interim Committee formed in the 2007 legislative session to look into this problem. Senator Wayne Niederhauser and Representative Todd Kiser now Co-chair this committee. I have talked with Senator Niederhauser and he assured me they are looking at the pros and cons of both market value and acquisition value. The best option the committee is considering uses the acquisition value system as its basis. There is a great plan to implement an acquisition value system with the constraints necessary to make it a very flexible and robust property tax plan for the State of Utah. Jim Bray has prepared a document explaining the plan and answers all the pertinent questions which need to be addressed.
Click here for that document: Fairness Property Tax Committee
What are the differences between a Market value system and a Acquisition value system?
Click here for: Acquisition Value vs Market Value
Some of the problems uncovered in Huntsville, one of the areas hit hardest by spiraling property taxes, are looked at on the page titled "Huntsville's property tax problems."
Click here to: Huntsville's property tax problems