Utah § 59-2-1347 - Redemption -- Adjustment or deferral of taxes -- Interest.
Full text of Utah Utah Code § 59-2-1347 — Redemption -- Adjustment or deferral of taxes -- Interest., with citation guidance and answers to common questions.
§ 59-2-1347. Redemption -- Adjustment or deferral of taxes -- Interest.
Effective 5/12/2020 59-2-1347.
Redemption -- Adjustment or deferral of taxes -- Interest.
(1)
(a)
If an interested person applies to a county legislative body for an adjustment or deferral of taxes levied against property located in the county, the county legislative body may accept a sum less than the full amount due, or defer the full amount due, where, in the judgment of the county legislative body, the best human interests and the interests of the state and the county are served.
(b)
Nothing in this section prohibits a county legislative body from granting a retroactive adjustment or deferral if the criteria established in this section are met.
(2)
(a)
In an application for an adjustment or deferral described in Subsection (1), the applicant shall include a statement setting forth the following:
(i)
a description of the property;
(ii)
the value of the property for the current year;
(iii)
the amount of delinquent taxes, interest, and penalties;
(iv)
(A)
for an adjustment, the amount proposed to be paid; or
(B)
for a deferral, the amount proposed to be deferred; and
(v)
any other information required by the county legislative body.
(b)
The commission shall prepare blank forms for an application for an adjustment or deferral under this section.
(3)
(a)
A county legislative body may not grant a deferral without the written consent of the holder of any mortgage or trust deed outstanding on the property.
(b)
Any amount deferred shall be recorded as a lien on the property and shall bear interest at a rate equal to the lesser of:
(i)
6%; or
(ii)
the federal funds rate target:
(A)
established by the Federal Open Markets Committee; and
(B)
that exists on the January 1 immediately preceding the day on which the taxes are deferred.
(c)
The amount deferred together with accrued interest is due and payable when the property is sold or otherwise conveyed.
(4)
Within 10 days after the day on which a county legislative body grants an adjustment or deferral, the county legislative body shall cause the adjustment or deferral to be posted in the county where the property involved is located. The publication shall contain:
(a)
the name of the applicant;
(b)
the parcel, serial, or account number of the property;
(c)
the value of the property for the current year;
(d)
the sum of the delinquent taxes, interest, and penalty due; and
(e)
the adjusted amount paid or deferred.
(5)
No later than the last day of each calendar month, each county legislative body shall send to the commission a record of any action taken by the county legislative body under this section during the preceding calendar month.
Section 59-2-1347 ("Redemption -- Adjustment or deferral of taxes -- Interest.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 59-2-1347?
A common citation format is "Utah Code § 59-2-1347" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 59-2-1347 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
