Fiscal Note
H.B. 270 2nd Sub. (Gray)
2024 General Session Multicounty Appraisal Trust Modifications by Dailey-Provost, J. (Vickers, Evan.)
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total Net GF/ITF/USF (rev.-exp.) $0 $0 $0
State Government UCA 36-12-13(2)(c)
Revenues FY 2024 FY 2025 FY 2026
Total Revenues $0 $0 $0
Enactment of this legislation likely will not materially impact state revenue.
Expenditures FY 2024 FY 2025 FY 2026
Total Expenditures $0 $0 $0
Enactment of this legislation likely will not materially impact state expenditures.
FY 2024 FY 2025 FY 2026
Net All Funds $0 $0 $0
Local Government UCA 36-12-13(2)(c)
Enactment of this legislation could increase the multicounty assessing and collecting levy to 0.000028
for 2024, and 0.000038 for 2025. It also specifies that future rates are the certified levy rounded up to the sixth decimal place. The Multi County Appraisal Trust and local entities could receive a tax year
2024 revenue increase of $6,548,100 and a tax year 2025 increase of $12,953,800.
Individuals & Businesses UCA 36-12-13(2)(c)
Enactment of this legislation could result in the average primary residence with a value of $500,000
experiencing a property tax increase of $3.58 in 2024 and $6.33 in 2025. The average business with a
H.B. 270 2nd Sub. (Gray)
value of $1,000,000 could see a property tax increase of $13.00 in 2024 and $23.00 in 2025.
Regulatory Impact UCA 36-12-13(2)(d)
Enactment of this legislation likely will not change the regulatory burden for Utah residents or
businesses.
Performance Evaluation JR1-4-601
This bill does not create a new program or significantly expand an existing program.
2024/02/22 15:58, Lead Analyst: Andrea Wilko Attorney: GH
Notes on Notes Fiscal notes estimate the direct costs or revenues of enacting a bill. The Legislature uses them to balance the budget. They do not measure a bill's benefits or non-fiscal impacts like opportunity costs, wait times, or inconvenience. A fiscal note is not an appropriation. The Legislature decides appropriations separately.
H.B. 270 2nd Sub. (Gray)
2024/02/22 15:58, Lead Analyst: Andrea Wilko Attorney: GH


Statutes affected:
Introduced: 59-2-1601, 59-2-1602, 59-2-1606
H.B. 270 1st Substitute : 59-2-1601, 59-2-1606
H.B. 270 2nd Substitute : 59-2-1601, 59-2-1602, 59-2-1606
H.B. 270 3rd Substitute (Not Adopted) Text: 59-2-1601, 59-2-1602, 59-2-1606
Amended: 59-2-1601, 59-2-1606
H.B. 270 1st Substitute (Not Adopted) Text: 59-2-1601, 59-2-1606