Bill > HB0485

This bill, titled "Property Tax Revenue Increase Amendments," modifies how property tax revenue is calculated and reported, primarily by adjusting the effective date for these changes to January 1, 2027, and introducing new definitions related to inflation. It amends existing laws to incorporate an "inflation adjusted budget increase" and an "inflation factor," which is based on the increase in the Consumer Price Index (CPI) for all urban consumers, or zero if there's no increase. The bill also redefines "maximum new growth revenue" to be the lesser of eligible new growth multiplied by a tax rate or the inflation-adjusted budget increase, and adjusts how "certified revenue levy" is calculated to include this inflation factor. Additionally, it updates various sections to reflect these new definitions and changes, impacting how property tax increases are noticed, budgeted, and reported, particularly concerning school districts and taxing entities.

https://le.utah.gov/~2026/bills/static/HB0485.html