Property tax reform ideas sought
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his space is typically the province of the newspaper ownership's views on any given issue. In other words, it's where we tell you what we think ought to be done.
Today, though, we're reversing the editorial order of things. We'd like to know what you think -- specifically, about property tax reform in Utah.
The Legislature's in session, and will be for another 35 days. There are several bills circulating that propose to deal with property taxes. They are a response to the outcry by homeowners who were jolted with property valuations -- and the attendant tax hikes -- of between 20 percent and, believe it or not, 300 percent.
Much of the skyrocketing valuations and tax bills resulted from the first readjustments in years. Others -- particularly those in the Ogden Valley -- were caused primarily by wild year-to-year increases in the selling prices of homes and undeveloped land. Vacation-home buyers, speculators, developers and lots of people with a surplus of financial means have been descending on the Ogden Valley in the years since the Olympics. Now longtime -- and some retired -- residents are facing tax bills that could price them out of their homes.
Bountiful was another hot spot for catapulting valuations and tax bills, and the effect there has been much the same: Longtime residents, many on fixed incomes, wondering how they'll pay the suddenly larger tab.
Given this situation, and the likelihood that other parts of Davis, Weber and other Top of Utah counties will suffer the same shock later this year, there's been a lot of talk about reform among lawmakers. It's an election year, you know, and if they don't have satisfactory solutions to address this concern, some could be turned out of office come November.
So far, ideas have included more stringent "circuit breaker" safeguards for retirees and low-income Utahns, meaning the increase in property tax assessments would be limited according to their income. Another idea suggests using five-year average property valuations to set the amount of property taxes owed. A third would simply report publicly the sale amount for each home, as some states do, helping the county assessor to more quickly establish the value and trajectory of home prices in a given neighborhood. One more example of an improved mechanism for establishing property tax valuations would be to make sure each county has a more sophisticated computer tracking system for home prices, helping to avoid once-every-five-years reassessments.
Those are some suggestions. There are others. Do you agree with any of them? A combination, perhaps?
Or do you have an idea of your own?
Whichever is true, let us know with a letter to the editor -- via e-mail at letters@standard.net, or via the U.S. mail at "Property Tax Letters, 332 Standard Way, Ogden, Utah 84412-2790." Keep them to 250 words or less, include your first and last name, street address and a daytime phone number for author verification, and send them as soon as possible. We'll publish the ones we've received and verified by midweek, and send them along to each state legislator.
We think they'll appreciate your input.
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