Assessor
Personal property is primarily property that is used in the operation of a business, mobile homes, aircraft, and motor vehicles. All non-exempt, tangible business personal property is valued and assessed annually by the Personal Property Division of the Assessor’s Office.
The Utah State Tax Commission provides all county assessors with recommended percent-good schedules each year. These schedules are used to equalize the valuation of personal property statewide. Personal property is classified according to its economic life, an appropriate depreciation table is generated and then trended to replacement cost new using Marshall-Swift cost indexes. Applying the appropriate percent-good rate for the age and class of the property to the original cost will yield an approximate fair market value for the subject property. Assessors may deviate from the recommended schedules on an individual item of property when provided sufficient documentation to establish an alternative fair market value.
The 2024 delinquent interest rate for real and personal property is 10.00%
Personal property taxes become delinquent 60 days after billing and the Assessor is required to charge interest at a rate which is 6% over the Federal Discount Rate (1.25%) as of January 1 of each year.
The Utah State Tax Commission provides all county assessors with recommended percent-good schedules each year. These schedules are used to equalize the valuation of personal property statewide. Personal property is classified according to its economic life, an appropriate depreciation table is generated and then trended to replacement cost new using Marshall-Swift cost indexes. Applying the appropriate percent-good rate for the age and class of the property to the original cost will yield an approximate fair market value for the subject property. Assessors may deviate from the recommended schedules on an individual item of property when provided sufficient documentation to establish an alternative fair market value.
A penalty of $25 or 10 % of the estimated tax due, whichever is greater, is assessed when a taxpayer fails to file a statement of personal property after the county provides certified notice of the failure to file. Property willfully concealed, misrepresented, or moved, in order to escape taxation is subject to a penalty equal to the tax on its value. Mobile homes or manufactured housing moved without a permit issued by the assessor may be subject to a penalty equal to the tax, and a commercial mover may be charged with a Class B misdemeanor.
Personal property is primarily property that is used in the operation of a business, mobile homes, aircraft, and motor vehicles. All non-exempt tangible business personal property is valued and assessed annually by the Personal Property Division of the Assessor's Office. The statements are mailed to all Salt Lake County businesses on the tax rolls during January and February.
The taxpayer has 60 days to complete the statement and return it with payment of the tax.
Statutory citations regarding the assessment of personal property are contained in Title 59, Chapter 2 of the Utah Code. New businesses should register with the Assessor when taking out a business license to avoid assessment of escaped property taxes. Certain types of property and some entities are exempt from property taxes. The personal property tax is collected and apportioned to the county, cities, school districts, and other taxing entities to pay for local governmental services.
NOTE: Business Personal Property is NOT your home or any other real estate or improvements. For tax payments on your home or any other real property, please go to the Salt Lake County Treasurer page.
