Mindy Duncan– Personal Property
P.O. Box 680
48 W. Young, Room 32
Morgan, UT 84050
Hours Monday - Thursday 7a.m. to 6p.m.
(excluding holidays), Closed Friday
Phone (801)845-4000 Fax (801)845-4091
Utah Code in Title 59 requires the taxation of property for the funding of local government and Utah schools. Property tax is assessed on both real property and personal property. Generally, personal property used in business is subject to property taxes. Utah law requires business personal property to be reported to the county assessor where the property is located (has situs) on a tax form identified as a Personal Property Signed Statement. Registered motor vehicles and recreational vehicles are subject to Uniform Fees. Personal Property is taxed based on its taxable value as of January 1 of each year. In order to value personal property, the Utah State Tax Commission provides personal property classification schedules which are used by all county assessors in Utah.
Personal Property is valued using a classification system referred to as “Recommended Personal Property Valuation Schedules”. These schedules identify various types of personal property and provide a “percent good” of acquisition cost for commercial personal property. To determine property type or “class” refer to the Classification Guide to determine personal property value refer to the Recommended Personal Property Valuation Schedules for each class of property. These valuation schedules provide a factor to be applied to acquisition cost (refer to the Definition of Acquisition Cost below) and acquisition year to determine taxable value. Once taxable value is determined, the local taxing area rate is applied to calculate the tax.
Check here for more information concerning Personal Property: