With the passage of SB 29 this legislative session, Utah’s “Truth-in-Taxation” law (first enacted in 1985) just got an upgrade. The bill, sponsored by Senator Chris Wilson, will help keep Utah residents informed when their local governments are proposing a property tax increase.
When the bill goes into effect, the truth-in-taxation process will change in the following ways:
- When local governments propose a tax increase, the notice sent to residents will now state the dollar amount the tax increase will raise.
- The notice of proposed tax increases will also now state the primary purpose for the tax increase.
- When the tax increase is discussed at the public hearing, the primary purpose for the funds and the amount that will be raised from the proposed tax will be disclosed.
- A county auditor will be able to audit compliance with existing and new truth-in-taxation requirements.
Because SB 29 increases transparency in the process governments use to propose property tax increases, it had Libertas’ full support. Luckily, the bill had strong support from the legislature, and passed unanimously in both houses.
