FARMINGTON - In response to pleas from many taxpayers across the county, but especially in the Bountiful area, Davis County Commissioners and Davis School District officials jointly proposed an "equity tax abatement"program Thursday afternoon.
Between 18,000 and 20,000 homeowners are expected to benefit from the abatement, or tax reduction, said County Clerk/Auditor Steve Rawlings. The board of education and county commission are expected to take action on the proposal in their respective meetings next Tuesdsay.
A total of $5.5 million in tax funds will be prorated on qualifying residential properties that received an increase above the 24 percent average increase. For every $20,000 in market value that exceeds the 24 percent average increase there will be about a $100 reduction in property taxes from that previously proposed, it was explained. In addition, other abatements, such as for Veterans and Circuit Breaker for senior citizens, could impact that amount further.
The abatement proposal has received the blessing of the State Tax Commission. It's made possible due to an increase in unexpected new-growth properties in the county, which means both government entities will receive more new growth property tax revenue thanbudgeted.
They will total $1 million for Davis County and $4.5 million for the school district. The county receives about 14 percent of property taxes and the school district about 60 percent. If individual cities wanted to take similar action, they would have to do it separately, officials said.
Official notice to impacted property owners will be made on property tax notices mailed in November. This will not mean any changes to reassessed values, however. Those can only be changed if property owners file an appeal to the County Clerk/Auditor's office for a property tax equalizaiton. That deadline is Sept. 17. Thus far, Rawlings said such requests are about at the same level as last year.
Of those property owners affected, 58 percent are in Bountiful, 13 percent in North Salt Lake, 9 percent in Farmington, 7 percent in Kaysville and 13 percent in various other areas.
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