Rising property values and tax increases equal higher property tax assessments
Each July, Utah County property owners receive their “Notice of Property Valuation and Tax Changes” from the Utah County Clerk. This year, residents will notice the largest value increases ever, with the average home increasing in value by nearly 30%. Utah state law requires taxing entities to follow a Truth-in-Taxation (TNT) system. The TNT system is revenue-driven instead of rate-driven, resulting in a decreased property tax rate when […]
Source: lehifreepress.com