59-2-1008 - Investigations by commission -- Assessment of escaped property -- Increase or decrease of assessed valuation. - Utah Statutes

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Statutes > Utah > Title-59 > Chapter-02 > 59-2-1008

59-2-1008. Investigations by commission -- Assessment of escaped property --Increase or decrease of assessed valuation.
(1) Each year the commission shall conduct an investigation throughout each county ofthe state to determine whether all property subject to taxation is on the assessment rolls, andwhether the property is being assessed at fair market value. When, after any investigation, it isfound that any property which is subject to taxation is not assessed, then the commission shalldirect the county assessor, the county board of equalization, or the county auditor, as it maydetermine, to enter the assessment of the escaped property.
(2) If it is found that any property in any county is not being assessed at its fair marketvalue, the commission shall, for the purpose of equalizing the value of property in the state,increase or decrease the valuation of the property in order to enforce the assessment of allproperty subject to taxation upon the basis of its fair market value, and shall direct the countyassessor, the county board of equalization, or the county auditor, as it may determine, to correctthe value of the property in a manner prescribed by the commission.
(3) The county assessors, county boards of equalization, and county auditors shall makeall increases or decreases as may be required by the commission to make the assessment of allproperty within the county conform to its fair market value.

Repealed and Re-enacted by Chapter 3, 1988 General Session

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-02 > 59-2-1008

59-2-1008. Investigations by commission -- Assessment of escaped property --Increase or decrease of assessed valuation.
(1) Each year the commission shall conduct an investigation throughout each county ofthe state to determine whether all property subject to taxation is on the assessment rolls, andwhether the property is being assessed at fair market value. When, after any investigation, it isfound that any property which is subject to taxation is not assessed, then the commission shalldirect the county assessor, the county board of equalization, or the county auditor, as it maydetermine, to enter the assessment of the escaped property.
(2) If it is found that any property in any county is not being assessed at its fair marketvalue, the commission shall, for the purpose of equalizing the value of property in the state,increase or decrease the valuation of the property in order to enforce the assessment of allproperty subject to taxation upon the basis of its fair market value, and shall direct the countyassessor, the county board of equalization, or the county auditor, as it may determine, to correctthe value of the property in a manner prescribed by the commission.
(3) The county assessors, county boards of equalization, and county auditors shall makeall increases or decreases as may be required by the commission to make the assessment of allproperty within the county conform to its fair market value.

Repealed and Re-enacted by Chapter 3, 1988 General Session

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State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-02 > 59-2-1008

59-2-1008. Investigations by commission -- Assessment of escaped property --Increase or decrease of assessed valuation.
(1) Each year the commission shall conduct an investigation throughout each county ofthe state to determine whether all property subject to taxation is on the assessment rolls, andwhether the property is being assessed at fair market value. When, after any investigation, it isfound that any property which is subject to taxation is not assessed, then the commission shalldirect the county assessor, the county board of equalization, or the county auditor, as it maydetermine, to enter the assessment of the escaped property.
(2) If it is found that any property in any county is not being assessed at its fair marketvalue, the commission shall, for the purpose of equalizing the value of property in the state,increase or decrease the valuation of the property in order to enforce the assessment of allproperty subject to taxation upon the basis of its fair market value, and shall direct the countyassessor, the county board of equalization, or the county auditor, as it may determine, to correctthe value of the property in a manner prescribed by the commission.
(3) The county assessors, county boards of equalization, and county auditors shall makeall increases or decreases as may be required by the commission to make the assessment of allproperty within the county conform to its fair market value.

Repealed and Re-enacted by Chapter 3, 1988 General Session