Title 59
Chapter 2a
Part 3
Section 305
| Index | Utah Code |
| Title 59 | Revenue and Taxation |
| Chapter 2a | Tax Relief Through Property Tax |
| Part 3 | Homeowner's Credit |
| Section 305 | Amount of homeowner's credit -- Cost-of-living adjustment -- Limitation -- General Fund as source of credit.
(Effective 1/1/2026)
|
Effective 1/1/2026
59-2a-305.
Amount of homeowner's credit -- Cost-of-living adjustment -- Limitation -- General Fund as source of credit.
| (1) |
| (a) | Subject to Subsection (2), for a calendar year beginning on or after January 1, 2024, a claimant may claim a homeowner's credit that does not exceed the following amounts:
| | |
| If household income is | Homeowner's credit |
| $0 -- $13,884 | $1,259 |
| $13,885 -- $18,515 | $1,105 |
| $18,516 -- $23,141 | $954 |
| $23,142 -- $27,770 | $726 |
| $27,771 -- $32,401 | $577 |
| $32,402 -- $36,754 | $351 |
| $36,755 -- $40,840 | $197 |
|
| (b) | For a calendar year beginning on or after January 1, 2025, the commission shall increase or decrease the household income eligibility amounts and the credits under Subsection (1)(a) by a percentage equal to the percentage difference between the consumer price index for the preceding calendar year and the consumer price index for calendar year 2023. |
|
| (2) |
| (a) | An individual may not receive the homeowner's credit under this section or the abatement described in Subsection 59-2a-101(21) on 20% of the fair market value of the residence if:
| (i) | the individual is claimed as a personal exemption on another individual's federal income tax return during any portion of a calendar year for which the individual seeks to claim the homeowner's credit under this section; |
| (ii) | the individual is a dependent with respect to whom another individual claims a tax credit under Section 24(h)(4), Internal Revenue Code, during any portion of a calendar year for which the individual seeks to claim the homeowner's credit under this section; or |
| (iii) | the individual did not own the residence for the entire calendar year for which the individual claims the homeowner's credit. |
|
| (b) | For a calendar year in which a residence is sold, the amount received as a homeowner's credit under this section or as an abatement described in Subsection 59-2a-101(21) on 20% of the fair market value of the residence shall be repaid to the county on or before the day on which the sale of the residence closes. |
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| (3) | A payment for a homeowner's credit allowed by this section, and authorized by Section 59-2a-302, shall be paid from the General Fund. |
| (4) | After the commission has adjusted the homeowner credit amount under Subsection (1)(b), the commission shall increase each homeowner credit amount under Subsection (1) by $49. |
Renumbered and Amended by Chapter
172, 2025 General Session