59-2-1602. Property Tax Valuation Fund -- Statewide levy -- Additional county levy.
(1) There is created a custodial fund in the Division of Finance known as the "Property Tax Valuation Fund." The fund consists of: deposits made and penalties received under Subsection (4); interest on money deposited into the fund; appropriations from the Legislature; the statewide property tax system and statewide web portals, including intellectual property rights; and the database. Subject to Subsection, the Division of Finance shall allocate money in the fund for the calendar year to the program manager: (1)(c)(ii) after the Division of Finance determines that the budget submitted in accordance with Sectioncontains proposed expenses for a use described in Subsection; and 59-2-1605 59-2-1606(4) for revenue the Division of Finance receives after the Division of Finance makes the determination in accordance with Subsection, within 30 days after receipt of the money. (1)(c)(i)(A) The Division of Finance may retain an amount equal to the cost of making the determination described in Subsectionbefore making an allocation. (1)(c)(i)(A) Subject to the requirements of this section, the program manager shall have: sole authority to: determine expenditure of revenue the Division of Finance allocates to the program manager, including provision of property valuation services within counties; and oversee the maintenance and enhancement of a statewide property tax system, including statewide web portals, that meets the requirements of this section; and control over the property described in Subsections, (1)(b)(v), and (2) for the purpose and uses described in this section. (1)(b)(iv) The program manager may spend money the Division of Finance allocates to the program manager only for STATS.
(2) The following assets are transferred to the program manager to use for STATS: tangible personal property purchased, in whole or in part, with revenue from the multicounty assessing and collecting levy, including property acquired before May 6, 2026; and unexpended revenue that is: obtained from the multicounty assessing and collecting levy or for the performance of the duties described in this section, including revenue acquired before May 6, 2026; and within the control of the program manager.
(3) Each county shall annually impose a multicounty assessing and collecting levy as provided in this Subsection (3). The tax rate of the multicounty assessing and collecting levy is the certified revenue levy rounded up to the sixth decimal place. The state treasurer shall allocate all revenue collected from the multicounty assessing and collecting levy to the Multicounty Appraisal Trust.
(4) The county shall state separately the multicounty assessing and collecting levy on the tax notice as a multicounty assessing and collecting levy. The multicounty assessing and collecting levy is: exempt from Sectionsthrough; 17C-1-403 17C-1-406 in addition to and exempt from the maximum levies allowable under Section; and 59-2-908 exempt from the notice and public hearing requirements of Section. 59-2-919 Each county shall transmit quarterly to the state treasurer the revenue the county collects from the multicounty assessing and collecting levy. The county shall transmit the revenue described in Subsectionno later than the tenth day of the month following the end of the quarter in which the county collects the revenue. (4)(c)(i) If a county transmits revenue described in Subsectionafter the tenth day of the month following the end of the quarter in which the county collects the revenue, the county shall pay an interest penalty at the rate of 10% each year until the county transmits the revenue. (4)(c)(i) The state treasurer shall deposit the revenue and penalties described in this Subsectioninto the fund. (4)
(5) A county may levy a county additional property tax in accordance with this Subsection (5). The county additional property tax: shall be separately stated on the tax notice as a county assessing and collecting levy; may not be incorporated into the rate of any other levy; is exempt from Sectionsthrough; and 17C-1-403 17C-1-406 is in addition to and exempt from the maximum levies allowable under Section. 59-2-908 A county shall use revenue collected from the county additional property tax to: promote the accurate valuation and uniform assessment levels of property as required by Section; 59-2-103 promote the efficient administration of the property tax system, including the costs of assessment, collection, and distribution of property taxes; fund state mandated actions to meet legislative mandates or judicial or administrative orders that relate to promoting: the accurate valuation of property; and the establishment and maintenance of uniform assessment levels within and among counties; and establish reappraisal programs that: are adopted by a resolution or ordinance of the county legislative body; and conform to rules the commission makes in accordance with. Title 63G, Chapter 3, Utah Administrative Rulemaking Act