Bill > HB0441

This bill, titled "Property Transaction Amendments," modifies how information about property sales is handled and shared, primarily by creating new requirements for reporting details of "sold property" transactions, which generally refers to the transfer of ownership of real estate, excluding residential properties and certain other specific types of transfers like those due to eminent domain actions or to secure debt. Specifically, it mandates that within 10 days of closing on a sold property, a closing agent must provide a declaration form, approved by the State Tax Commission and signed by both buyer and seller, to the "Multicounty Appraisal Trust" (a defined entity for property appraisal purposes), containing information such as buyer and seller names and addresses, parcel numbers, legal descriptions, square footage or acreage, the sale amount, and the transfer date, though this requirement can be waived if the seller has already provided this information to a "database" (a private collection of property sales data accessible to county assessors at no cost). The bill also amends existing law regarding access to private records, allowing governmental entities to disclose certain private records to a county assessor or the State Tax Commission, and to non-governmental parties involved in property tax appeals under specific conditions, and it clarifies that county assessors cannot use the declaration information as the sole basis for assessing a specific property but can use it to support market values and in property valuation appeals.

https://le.utah.gov/~2026/bills/static/HB0441.html