This filing was published in the 11/01/2006, issue, Vol. 2006, No. 21, of the Utah State Bulletin.
Tax Commission, Property Tax
2007 Personal Property Valuation Guides and Schedules Pursuant to Utah Code Ann. Section 59-2-301
NOTICE OF PROPOSED RULE
DAR File No.: 29134
Filed: 10/16/2006, 04:02
Received by: NL
Purpose of the rule or reason for the change:
Subsection 59-1-210(3) authorizes the State Tax Commission to promulgate rules that aid county officials in the performance of duties relating to the assessment and equalization of property within the county.
Summary of the rule or change:
This is an amendment to the class 23 personal property valuation schedule located in Section R884-24P-33. The class 23 valuation schedule is entitled "Aircraft Subject to the Aircraft Uniform Fee and Not Listed in the Aircraft Bluebook Price Digest".
State statutory or constitutional authorization for this rule:
Anticipated cost or savings to:
the state budget:
The amount of savings or cost to state government is undetermined. Tax revenue is distributed to local governments for assessing and collecting. The amount of increase of 2007 tax revenue cannot be determined, even if there were no changes in the percent good tables, because taxpayer acquisitions and deletions of property during 2007 is unknown. The proposed personal property schedule for class 23 has been increased to more accurately reflect the current fair market value of kit-built aircraft, experimental aircraft, gliders, and other aircraft requiring FAA registration but not listed in the Aircraft Bluebook Price Digest. This proposed change will have a minuscule impact on revenue due to the very small number of aircraft subject to this particular schedule.
The amount of saving or cost to local government is undetermined. Local governmental entities receive tax revenue based on increased or decreased personal property value. It is anticipated there will be a minuscule increase in 2007 tax revenue; however, the amount of increase cannot be determined because taxpayer acquisitions and deletions of property during 2007 is unknown. Also, this proposed change will have a minuscule impact on revenue due to the very small number of aircraft subject to this particular schedule.
The amount of savings or cost to individuals and business is undetermined. Affected persons pay taxes based on increased or decreased personal property value and this particular schedule affects a very small number of individuals.
Compliance costs for affected persons:
Individuals owning the type of aircraft not listed in the Aircraft Bluebook Price Digest and aircraft property tax practitioners will be required to be aware of the increased percent good figures. However, this is no different than previous years; therefore, the compliance cost in completing the assessment process will not change.
Comments by the department head on the fiscal impact the rule may have on businesses:
It is anticipated this particular rule and applicable schedules affects a small number of individuals and businesses. Affected persons will pay taxes based upon an increased or decreased personal property value. D'Arcy Dixon, Commissioner
The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:Tax Commission
210 N 1950 W
SALT LAKE CITY UT 84134
Direct questions regarding this rule to:
Cheryl Lee at the above address, by phone at 801-297-3900, by FAX at 801-297-3919, or by Internet E-mail at firstname.lastname@example.org
Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:
This rule may become effective on:
D'Arcy Dixon, Commissioner
R884. Tax Commission, Property Tax.
R884-24P. Property Tax.
R884-24P-33. 2007 Personal Property Valuation Guides and Schedules Pursuant to Utah Code Ann. Section 59-2-301.
. . . . . . .
(u) Class 23 - Aircraft Subject to the Aircraft Uniform Fee and Not Listed in the Aircraft Bluebook Price Digest.
(i) Examples of property in this class include:
(A) kit-built aircraft;
(B) experimental aircraft;
(D) hot air balloons; and
(E) any other aircraft requiring FAA registration.
(ii) Aircraft subject to the aircraft uniform fee, but not listed in the Aircraft Bluebook Price Digest, are valued by applying the percent good factor against the acquisition cost of the aircraft.
(iii) Aircraft requiring Federal Aviation Agency registration and kept in Utah must be registered with the Motor Vehicle Division of the Tax Commission.
Year of Percent Good
Acquisition of Acquisition Cost
95 and prior 31%
. . . . . . .
KEY: taxation, personal property, property tax, appraisal
Date of Enactment or Last Substantive Amendment: [
September 21], 2006
Notice of Continuation: April 5, 2002
Authorizing, and Implemented or Interpreted Law: 59-2-301
Text to be deleted is struck through and surrounded by brackets (e.g., [
example]). Text to be added is underlined (e.g., ). Older browsers may not depict some or any of these attributes on the screen or when the document is printed.
For questions regarding the content or application of this rule, please contact Cheryl Lee at the above address, by phone at 801-297-3900, by FAX at 801-297-3919, or by Internet E-mail at email@example.com
For questions about the rulemaking process, please contact the Division of Administrative Rules (801-538-3764). Please Note: The Division of Administrative Rules is NOT able to answer questions about the content or application of these administrative rules.
Last modified: 10/27/2006 3:37 PM