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Tuesday, November 23, 2010

Noteworthy Information

A recent e-mail from County Commissioner Alan Gardner

The County could use the help of the realtor association and they would also provide an additional service to their clients.

The State Legislature passed a law years ago that gives the owner of a primary residence a 45% discount in their property tax over a non primary residence (2nd home). If a person has a rental that is rented and it is the primary residence of the renter it also qualifies for the 45% discount. In order for the owner to qualify they need to obtain a form from the Assessor’s office, fill it out and return it to them.

This is a law that is unique to Utah so an out of state buyer has no idea of it. Many instate buyers have no idea either. The Assessor’s office mails out these forms but often they get set aside or people don’t realize the importance of returning them. In that case they are assessed the full amount and it may be several years before they become aware of the situation and have paid several thousand in extra taxes. If realtors could make their buyers aware of the law and the need to fill out the form it could greatly help the situation.

We are going to make another effort to request this of the title companies also and ask them to have the form present at closing but if would help if the realtors would also make buyers aware.
Thanks for your help

Alan Gardner
County Commissioner