59-2-303.1 - Mandatory cyclical appraisals. - Utah Statutes

59-2-303.1. Mandatory cyclical appraisals.
(1) For purposes of this section:
(a) "Corrective action" includes:
(i) factoring pursuant to Section 59-2-704;
(ii) notifying the state auditor that the county failed to comply with the requirements ofthis section; or
(iii) filing a petition for a court order requiring a county to take action.
(b) "Mass appraisal system" means a computer assisted mass appraisal system that:
(i) a county assessor uses to value real property; and
(ii) includes at least the following system features:
(A) has the ability to update all parcels of real property located within the county eachyear;
(B) can be programmed with specialized criteria;
(C) provides uniform and equal treatment of parcels within the same class of realproperty throughout the county; and
(D) annually updates all parcels of residential real property within the county usingaccepted valuation methodologies as determined by rule.
(c) "Property review date" means the date a county assessor completes a detailed reviewof the property characteristics of a parcel of real property in accordance with Subsection (3)(a).
(2) (a) The county assessor shall annually update property values of property as providedin Section 59-2-301 based on a systematic review of current market data.
(b) The county assessor shall conduct the annual update described in Subsection (2)(a) byusing a mass appraisal system on or before the following:
(i) for a county of the first class, January 1, 2009;
(ii) for a county of the second class, January 1, 2011;
(iii) for a county of the third class, January 1, 2014; and
(iv) for a county of the fourth, fifth, or sixth class, January 1, 2015.
(c) The county assessor and the commission shall jointly certify that the county's massappraisal system meets the requirements:
(i) described in Subsection (1)(b); and
(ii) of the commission.
(3) (a) In addition to the requirements in Subsection (2), the county assessor shallcomplete a detailed review of property characteristics for each property at least once every fiveyears.
(b) The county assessor shall maintain on the county's computer system, a record of thelast property review date for each parcel of real property located within the county assessor'scounty.
(4) (a) The commission shall take corrective action if the commission determines that:
(i) a county assessor has not satisfactorily followed the current mass appraisal standards,as provided by law;
(ii) the sales-assessment ratio, coefficients of dispersion, or other statistical measures ofappraisal performance related to the studies required by Section 59-2-704 are not within thestandards provided by law; or
(iii) the county assessor has failed to comply with the requirements of this section.
(b) If a county assessor fails to comply with the requirements of this section for one year,

the commission shall assist the county assessor in fulfilling the requirements of Subsections (2)and (3).
(c) If a county assessor fails to comply with the requirements of this section for twoconsecutive years, the county will lose the county's allocation of the revenue generated statewidefrom the imposition of the multicounty assessing and collecting levy authorized in Sections59-2-1602 and 59-2-1603.
(d) If a county loses its allocation of the revenue generated statewide from the impositionof the multicounty assessing and collecting levy described in Subsection (4)(c), the revenue thecounty would have received shall be distributed to the Multicounty Appraisal Trust created byinterlocal agreement by all counties in the state.
(5) (a) On or before July 1, 2008, the county assessor shall prepare a five-year plan tocomply with the requirements of Subsections (2) and (3).
(b) The plan shall be available in the county assessor's office for review by the publicupon request.
(c) The plan shall be annually reviewed and revised as necessary.
(6) (a) A county assessor shall create, maintain, and regularly update a databasecontaining the following information that the county assessor may use to enhance the county'sability to accurately appraise and assess property on an annual basis:
(i) fee and other appraisals;
(ii) property characteristics and features;
(iii) property surveys;
(iv) sales data; and
(v) any other data or information on sales, studies, transfers, changes to property, orproperty characteristics.
(b) A county assessor shall submit a report to the commission on or before September 1stating the progress of the county assessor to meet the requirements of Subsection (6)(a).
(c) The commission shall report to the Revenue and Taxation Interim Committee on orbefore the October interim meeting concerning the information received from the countyassessors pursuant to Subsection (6)(b).

Amended by Chapter 131, 2010 General Session