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Current as of January 01, 2025 | Updated by Findlaw Staff
(1)(a) On or before March 31 of each year, the auditor of each county in which an agency is located shall prepare a report on the project areas within each agency.
(b) The county auditor shall send a copy of each report under Subsection (1)(a) to the agency that is the subject of the report, the State Tax Commission, the State Board of Education, and each taxing entity from which the agency receives tax increment.
(2) Each report under Subsection (1)(a) shall report:
(a) the total assessed property value within each project area for the previous tax year;
(b) the base taxable value of each project area for the previous tax year;
(c) the tax increment available to be paid to the agency for the previous tax year;
(d) the tax increment requested by the agency for the previous tax year; and
(e) the tax increment paid to the agency for the previous tax year.
(3) Within 30 days after a request by an agency, the State Tax Commission, the State Board of Education, or any taxing entity from which the agency receives tax increment, the county auditor or the county assessor shall provide access to:
(a) the county auditor's method and calculations used to make adjustments under Section 17C-1-408;
(b) the unequalized assessed valuation of an existing or proposed project area, or any parcel or parcels within an existing or proposed project area, if the equalized assessed valuation has not yet been determined for that year;
(c) the most recent equalized assessed valuation of an existing or proposed project area or any parcel or parcels within an existing or proposed project area; and
(d) the tax rate of each taxing entity adopted as of November 1 for the previous tax year.
(4) Each report described in Subsection (1)(a) shall include:
(a) sufficient detail regarding the calculations performed by a county auditor so that an agency or other interested party could repeat and verify the calculations; and
(b) a detailed explanation of any adjustments made to the base taxable value of each project area.
Cite this article: FindLaw.com - Utah Code Title 17C. Limited Purpose Local Government Entities--Community Development and Renewal Agencies Act § 17C-1-606. County auditor report on project areas - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-17c-limited-purpose-local-government-entities-community-development-and-renewal-agencies-act/ut-code-sect-17c-1-606/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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