February 3, 2022 (Salt Lake City) – Utahns share a common interest in a state and local tax system that provides for our needs, keeps the economy strong, and remains viable over the long term. The Kem C. Gardner Institute today released a visual guide that illustrates key components of Utah’s property tax – the oldest and most stable of Utah’s major taxes.
“Utah faces relentless growth, changing cost structures, structural economic changes, and funding tradeoffs,” said Phil Dean, public finance senior research fellow at the Gardner Institute and lead author of the report. “These changes require constant adaptation, innovation, and realignment of Utah’s fiscal systems. Though not without complications, the property tax provides a stable and economically efficient revenue source with many economic benefits to help address the State’s growth challenges.”