Utah § 59-2-303.2 - Automatic review of assessed value of review property.
Full text of Utah Utah Code § 59-2-303.2 — Automatic review of assessed value of review property., with citation guidance and answers to common questions.
§ 59-2-303.2. Automatic review of assessed value of review property.
Effective 3/22/2021 59-2-303.2.
Automatic review of assessed value of review property.
(1)
As used in this section:
(a)
"Final assessed value" means:
(i)
for a review property for which the taxpayer did not appeal the valuation or equalization in accordance with Section 59-2-1004, the assessed value as stated on the valuation notice described in Section 59-2-919.1;
(ii)
for a review property for which the taxpayer appealed the valuation or equalization in accordance with Section 59-2-1004, the assessed value given to the review property by the county board of equalization, including an assessed value based on a stipulation of the parties;
(iii)
for real property for which the taxpayer or a county assessor appealed the valuation or equalization to the commission in accordance with Section 59-2-1006, the value given to the real property by:
(A)
the commission, if the commission has issued a decision in the appeal or the parties have entered a stipulation; or
(B)
a county board of equalization, if the commission has not yet issued a decision in the appeal and the parties have not entered a stipulation; or
(iv)
for real property for which the taxpayer or a county assessor sought judicial review of the valuation or equalization in accordance with Section 59-1-602 or Title 63G, Chapter 4, Part 4, Judicial Review, the value given the real property by the commission.
(b)
"Median property value change" means the midpoint of the property value changes for all real property that is:
(i)
of the same class of real property as the review property; and
(ii)
located within the same county and within the same market area as the review property.
(c)
"Property value change" means the percentage change in the fair market value of real property on or after January 1 of the previous year and before January 1 of the current year.
(d)
"Qualifying change" means one of the following changes to real property that occurs on or after January 1 of the previous taxable year and before January 1 of the current taxable year:
(i)
a physical improvement if, solely as a result of the physical improvement, the fair market value of the physical improvement equals or exceeds the greater of 10% of fair market value of the real property or $20,000;
(ii)
a zoning change, if the fair market value of the real property increases solely as a result of the zoning change; or
(iii)
a change in the legal description of the real property, if the fair market value of the real property increases solely as a result of the change in the legal description of the real property.
(e)
"Review property" means real property located in the county:
(i)
that on or after January 1 of the previous year and before January 1 of the current year has not had a qualifying change; and
(ii)
for which the county assessor did not conduct a detailed review of property characteristics during the current taxable year.
(f)
"Threshold increase" means an increase in a review property's assessed value for the current taxable year compared to the final assessed value of the review property for the previous taxable year that is:
(i)
the median property value change plus 15%; and
(ii)
at least $10,000.
(2)
(a)
Before completing and delivering the assessment book to the county auditor in accordance with Section 59-2-311, the county assessor shall review the assessment of a review property for which the assessed value for the current taxable year is equal to or exceeds the threshold increase.
(b)
The county assessor shall retain a record of the properties for which the county assessor conducts a review in accordance with this section and the results of that review.
(3)
(a)
If the county assessor determines that the assessed value of the review property reflects the review property's fair market value, the county assessor may not adjust the review property's assessed value.
(b)
If the county assessor determines that the assessed value of the review property does not reflect the review property's fair market value, the county assessor shall adjust the assessed value of the review property to reflect the fair market value.
(4)
The review process described in this section does not supersede or otherwise affect a taxpayer's right to appeal or to seek judicial review of the valuation or equalization of a review property in accordance with:
Frequently Asked Questions About Utah § 59-2-303.2
What does Utah Code § 59-2-303.2 cover?
Section 59-2-303.2 ("Automatic review of assessed value of review property.") 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 § 59-2-303.2?
A common citation format is "Utah Code § 59-2-303.2" (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 § 59-2-303.2 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.
