1. Committee
Business
·
Call to Order
·
Approval of the minutes of the
2.
Property Tax - Standards
for Determining Acceptable Levels and Valuation Deviations Within Each County
The Tax Commission adopts, by rule R884-24P-27, standards for
determining acceptable assessment levels and valuation deviations within each
county. Every five years, the Revenue and Taxation Interim Committee is
required by Section 59-2-704.5 to review the
Tax Commission's standards and determine whether the standards should be
modified.
·
Joshua Nielsen, Director of
Property Tax, State Tax Commission
·
Committee discussion/action
3.
Property Tax – Appeals of
Assessed Value and the Impact on Taxing Entity Budgets
The
committee will discuss issues that taxing entities face when the owners of
high-value properties in their districts are awarded new, lower, valuations
upon appeal of the original assessment.
·
Lincoln
Shurtz, on behalf of the Utah Association of Counties
·
State
Tax Commission
·
Committee
discussion/action
4.
Property Tax
– Circuit Breaker
The
State Tax Commission has requested that the committee review the definitions of
“household income” and “nontaxable income” within Section
59-2-1202
to determine whether certain sources of income should be taken into
consideration for a property tax relief application.
The
State Tax Commission has also requested that the committee review the process of
appealing to the State Tax Commission when a property tax relief claim has been
denied on the grounds of late filing of claim.
·
Rebecca Rockwell,
Commissioner, State Tax Commission
·
Committee discussion/action
5.
Income Tax – Upcoming
Changes to the Internal Revenue Code
Committee staff will
present on upcoming changes to the Internal Revenue Code, including provisions
of the Tax Cut and Jobs Act that will expire in 2025 or have already begun to
phase out.
·
Committee
Staff
·
Committee
discussion/action
6. Individual
Income Tax Amendments – Draft Legislation
This draft legislation modifies the State Tax Commission’s determination of domicile in Section 59-10-136 for purposes of the individual income tax.
·
Committee staff
·
State Tax Commission
· Public comment
·
Committee discussion/action
7. State
Tax Commission Public Meeting Requirements – Draft Legislation
This
draft legislation removes the sunset date for Sections 59-1-213.1, 59-1-405(1)(g) and
59-1-405(2)(b).
The draft legislation also removes the requirement for the State Tax
Commission to provide
a report to the
Revenue
and Taxation Interim Committee containing information on commission meetings
that were not open to the public and that were held during the previous year
to provide guidance to commission employees.
·
Committee
Staff
·
Committee
discussion/action
8. Short
Term Rental Modifications – Draft Legislation
This
draft legislation modifies the definition of “short term rental” in Section 59-12-102 to mean a lease or
rental for less than 30 consecutive days and applies that definition to the
taxes on accommodations and motor vehicles.
·
Committee
Staff
·
Committee
discussion/action
9. Tax
Refund Claim Amendments – Draft Legislation
This draft legislation adjusts the procedure for obtaining redetermination of a deficiency in Section 59-1-501 by allowing a person to object to a final assessment issued by the commission by paying the penalty or interest and requesting a refund even if the person did not previously challenge the assessment of a penalty or interest.
·
Committee
Staff
·
Committee
discussion/action
10. Other Items/Adjourn