Title 59 Chapter 2 Section 1365

Revenue and Taxation
Property Tax Act
Section 1365
Payment to taxing entities by county treasurer -- Investment of proceeds -- Transfer and receipt of money between taxing entities.

            

59-2-1365.   Payment to taxing entities by county treasurer -- Investment of proceeds -- Transfer and receipt of money between taxing entities.

            (1) Except as provided in Subsections (3) and (4), the county treasurer shall pay to the treasurer of each taxing entity in the county on or before the tenth day of each month:

            (a) all money that the county treasurer received during the preceding month that is due to the taxing entity; and

            (b) each taxing entity’s proportionate share of money the county treasurer received during the preceding month for:

            (i) delinquent taxes;

            (ii) interest;

            (iii) penalties; and

            (iv) costs on all tax sales and redemptions.

            (2) Except as provided in Subsections (3) and (4), the county treasurer shall:

            (a) adopt an appropriate procedure to account for the transfer and receipt of money between taxing entities;

            (b) make a final annual settlement on March 31 with each taxing entity, including providing the taxing entity a written statement for the most recent calendar year of the amount of:

            (i) total taxes charged;

            (ii) current taxes collected;

            (iii) treasurer’s relief;

            (iv) redemptions;

            (v) penalties;

            (vi) interest;

            (vii) in lieu fee collections on motor vehicles; and

            (viii) miscellaneous collections;

            (c) invest the money it receives under Subsection (1); and

            (d) pay annually to each taxing entity in the county the interest earned on the invested money under Subsection (2)(c):

            (i) on or before March 31; and

            (ii) apportioned according to the proportion that the taxing entity’s tax receipts bear to the total tax receipts received by the county treasurer.

            (3) Notwithstanding Subsections (1) and (2), a county may:

            (a) negotiate with a taxing entity a procedure other than the procedure provided in Subsection (2)(a) to account for the transfer and receipt of money between the county and the taxing entity; and

            (b) establish a date other than the tenth day of each month for the county treasurer to make payments required under Subsection (1).

            (4) This section does not invalidate an existing contract between a county and a taxing entity relating to the apportionment and payment of money or interest.


Amended by Chapter 342, 2011 General Session