11-42-413 - Surplus assessments -- Payment of bonds -- Rebate of assessment if improvements abandoned. - Utah Statutes

State Codes and Statutes

Statutes > Utah > Title-11 > Chapter-42 > 11-42-413

11-42-413. Surplus assessments -- Payment of bonds -- Rebate of assessment ifimprovements abandoned.
(1) As used in this section:
(a) "Current owner" means the owner of property at the time a rebate under this section ispaid.
(b) "Last-known address" means the last address of an owner of property within anassessment area according to the last completed real property assessment roll of the county inwhich the property is located.
(c) "Net assessment" means the amount of an assessment after subtracting:
(i) the amount required to pay for any improvements that have been made prior to theirbeing abandoned; and
(ii) any damages or costs related to an abandonment of improvements.
(2) (a) If the total cost of completed and accepted improvements is less than the totalamount of assessments levied for those improvements, the local entity shall place the surplus inthe assessment fund.
(b) If a local entity issues assessment bonds before a surplus under Subsection (2)(a) isdetermined, the local entity shall hold the surplus in the assessment fund and use the surplus forthe payment of the bonds, interest, and any penalties and costs.
(3) If a local entity abandons improvements in an assessment area before theimprovements have been started or, if started, before they have been completed and accepted butafter an assessment has been levied, the local entity shall rebate the net assessment to the currentowner.

Enacted by Chapter 329, 2007 General Session

State Codes and Statutes

Statutes > Utah > Title-11 > Chapter-42 > 11-42-413

11-42-413. Surplus assessments -- Payment of bonds -- Rebate of assessment ifimprovements abandoned.
(1) As used in this section:
(a) "Current owner" means the owner of property at the time a rebate under this section ispaid.
(b) "Last-known address" means the last address of an owner of property within anassessment area according to the last completed real property assessment roll of the county inwhich the property is located.
(c) "Net assessment" means the amount of an assessment after subtracting:
(i) the amount required to pay for any improvements that have been made prior to theirbeing abandoned; and
(ii) any damages or costs related to an abandonment of improvements.
(2) (a) If the total cost of completed and accepted improvements is less than the totalamount of assessments levied for those improvements, the local entity shall place the surplus inthe assessment fund.
(b) If a local entity issues assessment bonds before a surplus under Subsection (2)(a) isdetermined, the local entity shall hold the surplus in the assessment fund and use the surplus forthe payment of the bonds, interest, and any penalties and costs.
(3) If a local entity abandons improvements in an assessment area before theimprovements have been started or, if started, before they have been completed and accepted butafter an assessment has been levied, the local entity shall rebate the net assessment to the currentowner.

Enacted by Chapter 329, 2007 General Session

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Utah > Title-11 > Chapter-42 > 11-42-413

11-42-413. Surplus assessments -- Payment of bonds -- Rebate of assessment ifimprovements abandoned.
(1) As used in this section:
(a) "Current owner" means the owner of property at the time a rebate under this section ispaid.
(b) "Last-known address" means the last address of an owner of property within anassessment area according to the last completed real property assessment roll of the county inwhich the property is located.
(c) "Net assessment" means the amount of an assessment after subtracting:
(i) the amount required to pay for any improvements that have been made prior to theirbeing abandoned; and
(ii) any damages or costs related to an abandonment of improvements.
(2) (a) If the total cost of completed and accepted improvements is less than the totalamount of assessments levied for those improvements, the local entity shall place the surplus inthe assessment fund.
(b) If a local entity issues assessment bonds before a surplus under Subsection (2)(a) isdetermined, the local entity shall hold the surplus in the assessment fund and use the surplus forthe payment of the bonds, interest, and any penalties and costs.
(3) If a local entity abandons improvements in an assessment area before theimprovements have been started or, if started, before they have been completed and accepted butafter an assessment has been levied, the local entity shall rebate the net assessment to the currentowner.

Enacted by Chapter 329, 2007 General Session