First Substitute H.B. 265

Representative Gage Froerer proposes the following substitute bill:

1 REAL PROPERTY AMENDMENTS
2 2010 GENERAL SESSION
3 STATE OF UTAH
4 Chief Sponsor: Gage Froerer
5 Senate Sponsor: Curtis S. Bramble
6
7 LONG TITLE
8 General Description:
9 This bill modifies property tax assessment provisions relating to certain property.
10 Highlighted Provisions:
11 This bill:
12 . requires a county assessor to consider certain factors in determining the fair market
13 value of a golf course or hunting club.
14 Monies Appropriated in this Bill:
15 None
16 Other Special Clauses:
17 None
18 Utah Code Sections Affected:
19 AMENDS:
20 59-2-301.1, as enacted by Laws of Utah 2002, Chapter 27
21
22 Be it enacted by the Legislature of the state of Utah:
23 Section 1. Section 59-2-301.1 is amended to read:
24 59-2-301.1. Assessment of property subject to a conservation easement.
25 (1) In assessing the fair market value of property subject to a conservation easement

26 under Title 57, Chapter 18, Land Conservation Easement Act, a county assessor shall include
27 as part of the assessment any effects the conservation easement may have on the fair market
28 value of the property.
29 (2) (a) In assessing the fair market value of a golf course or hunting club, a county
30 assessor shall consider factors relating to the golf course or hunting club and neighboring
31 property that affect the fair market value of the golf course or hunting club, including:
32 (i) value that transfers to neighboring property because of the presence of the golf
33 course or hunting club;
34 (ii) practical and legal restrictions on the development potential of the golf course or
35 hunting club; and
36 (iii) the history of operation of the golf course or hunting club and the likelihood that
37 the present use will continue into the future.
38 (b) The valuation method a county assessor may use in determining the fair market
39 value of a golf course or hunting club includes:
40 (i) the cost approach;
41 (ii) the income approach; and
42 (iii) the market approach.