Utah Code Title 17C. Limited Purpose Local Government Entities--Community Development and Renewal Agencies Act § 17C-1-301.5. Agency property exempt from taxation--Exception

(1) Agency property acquired or held for purposes of this title is public property used for essential public and governmental purposes and, subject to Subsection (2), is exempt from taxation by a taxing entity.

(2) The exemption in Subsection (1) does not apply to property that the agency leases to a lessee unless the lessee is entitled to a tax exemption with respect to the property.