Explaining your property taxes
If you own property in Utah, you have most likely received a "notice of property valuation and tax change" from your county. Nearly everyone's property has increased dramatically. (Don't get too giddy about that because the value of your next house has increased by about the same percentage.)
In the next two weeks, we will be discussing property taxes with emphasis on Truth-in-Taxation. The Utah Taxpayers Association lobbied very aggressively for Truth-in-Taxation in the 1980s and continues to defend it every year.
This six-part series will cover the following:
1. How does Truth-in-Taxation work?
2. Why did my property taxes go up (or down)?
3. What have been the results of Truth-in-Taxation?
4. Does Truth-in-Taxation hurt local governements?
5. What impact do centrally assessed properties have on tax rates?
6. Does Utah need a Prop 13?