Tax Revenue Amendments

Summary

The bill would cap how much money Utah cities and counties can keep in reserve and would reduce the residential property tax exemption for rental homes, with some exceptions. It also clarifies rules for owners with multiple primary residences and requires counties to report exemption recipients to the Multicounty Appraisal Trust. These changes aim to tighten tax revenue calculations and limit excess reserves.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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