Fiscal Note - State of Utah - 2011 General Session

HB0166 - School District Property Tax Amendments

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill likely will not materially impact the state budget.

Local Governments (UCA 36-12-13(2)(c)):
Residents of school districts may elect to increase the authorized Voted Leeway rate by 0.001 per dollar of taxable value. If all districts elected to raise rates by 0.001, districts would collectively generate an additional $180.5 million in property tax revenue.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
For each 0.001 increase in property tax rate, a business or primary residence valued at $100,000 may experience a tax increase of $100 and $55 respectively.