Utah Code Title 59. Revenue and Taxation § 59-2-1208. Amount of homeowner's credit--Cost-of-living adjustment--Limitation--General Fund as source of credit

(1)(a) Subject to Subsections (2) and (4), for a calendar year beginning on or after January 1, 2021, a claimant may claim a homeowner's credit that does not exceed the following amounts:

(b) For a calendar year beginning on or after January 1, 2022, the commission shall increase or decrease the household income eligibility amounts and the credits under Subsection (1)(a) by a percentage equal to the percentage difference between the consumer price index housing for the preceding calendar year and the consumer price index housing for calendar year 2020.

(2)(a) An individual may not receive the homeowner's credit under this section or the tax relief described in Subsection 59-2-1202(10)(a) on 20% of the fair market value of the residence if:

(b) For a calendar year in which a residence is sold, the amount received as a homeowner's credit under this section or as tax relief described in Subsection 59-2-1202(10)(a) on 20% of the fair market value of the residence shall be repaid to the county on or before the day on which the sale of the residence closes.

(a) for a calendar year that begins on January 1, 2018, $14;

(b) for a calendar year that begins on January 1, 2019, $22;

(c) for a calendar year that begins on January 1, 2020, $31;

(d) for a calendar year that begins on January 1, 2021, $40; and

(e) for a calendar year that begins on or after January 1, 2022, $49.