When the subject of property taxes comes up, local officials are apt to bring up Utah’s Truth in Taxation law. As the name of the law implies, Utah’s Legislature created the law as a means of ensuring transparency to decision-making about taxes. But one practical effect of the law was to limit local governments’ ability to reap windfalls from increasing property values. And from the perspective of some local officials, the law has stunted revenue growth.
To get to the bottom of this issue, Utah Foundation has issued a new report, “The Essential Tax: Property Taxation in Utah.”
Property taxes in Utah are older than Utah itself, dating back to 1849, the year after the U.S. gained this area from Mexico. Since antiquity, property taxes have been a primary means of paying for the services and infrastructure provided by government. While several states lack income or sales taxes, no state lacks property taxes. In short, property taxes may be the most expected taxes on earth.
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