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Utah Code Title 17. Counties § 17-36-53. Tax stability and trust fund--Amount in fund limited--Disposition of excess

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) The total amount in a county's tax stability and trust fund established under Section 17-36-51 shall be limited to the percentage of the total taxable value of property in that county not to exceed the limits provided in the following schedule:

Total Taxable Value

Fund Limits
Percentage of
Taxable Value

but not to
exceed:

Less than $500,000,000

1.6%

$5,000,000

From 500,000,000 to

1,500,000,000

1.0%

7,500,000

Over 1,500,000,000

.5%

15,000,000

(2) If any excess occurs in the tax stability and trust fund over the percentage or maximum dollar amounts specified in Subsection (1), this excess shall be transferred to the county general fund and may be used for all purposes as other amounts in the county general fund are used.

(3)(a) Subject to Subsection (3)(b), if any excess in the fund exists because of a decrease in total taxable value, that excess may remain in the fund.

(b) If the excess amount in the fund is decreased below the limitations of the fund for any reason, the fund limitations established under Subsection (1) apply.

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Cite this article: FindLaw.com - Utah Code Title 17. Counties § 17-36-53. Tax stability and trust fund--Amount in fund limited--Disposition of excess - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-17-counties/ut-code-sect-17-36-53/

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