{"data":{"id":"us-ut/utah-code-59-2-301.8","jurisdiction":"us-ut","citation":"Utah Code § 59-2-301.8","heading":"Assessment of multi-tenant residential property.","body":"(1) As used in this section:\n(a) \"Multi-tenant residential property\" means real and personal property where:\n(i) the real property:\n(A) is rented as 10 or more separate housing units;\n(B) meets the definition of residential property; and\n(C) qualifies for the residential exemption described in Section 59-2-103; and\n(ii) the personal property is:\n(A) located within the real property; and\n(B) owned by the same person as the real property.\n(b) \"Multi-tenant residential property\" does not include a tourist home, a hotel, a motel, or a trailer court accommodation and service that is regularly rented for fewer than 30 consecutive days.\n(2)\n(a) A county assessor may use an income approach to value multi-tenant residential properties within the county if the county assessor finds that the income approach is a valid indicator of fair market value for the multi-tenant residential property in the county.\n(b) A county assessor that chooses to value a multi-tenant residential property in accordance with this section shall use the same valuation method for all multi-tenant residential properties within the county.\n(c) On or before May 1, a county assessor shall notify the commission about the county's method for valuing multi-tenant residential properties if the county assessor:\n(i)\n(A) chooses to value multi-tenant residential properties in accordance with this section for the current tax year; and\n(B) did not choose to value multi-tenant residential properties in accordance with this section for the previous tax year; or\n(ii)\n(A) chose to value multi-tenant residential properties in accordance with this section for the previous tax year; and\n(B) is not choosing to value multi-tenant residential properties in accordance with this section for the current tax year.\n(3)\n(a) If a county assessor chooses to use the income approach to value multi-tenant residential properties, the county assessor may relieve the owners of any obligation to file the signed statement requested by the county under Section 59-2-306 for the owners' personal property located within the multi-tenant residential properties.\n(b) On or before May 1:\n(i) a county assessor that chooses to value multi-tenant residential properties in accordance with this section shall notify an owner that the owner is not required to file a signed statement if:\n(A) the county requests a signed statement under Section 59-2-306;\n(B) the county assessor relieves the owner of any obligation to file a signed statement in accordance with Subsection (3)(a); and\n(C) the county assessor did not relieve the owner of the signed statement obligation for the previous tax year; or\n(ii) a county assessor that chooses not to value multi-tenant residential properties in accordance with this section shall notify an owner of the obligation to file a signed statement if:\n(A) the county requests a signed statement under Section 59-2-306; and\n(B) the county assessor relieved the owner from filing a signed statement of personal property for the previous tax year.\n(4) For personal property for which an owner is relieved of the obligation to file a signed statement under Subsection (3):\n(a)\n(i) the county assessor shall assess the personal property in the same manner as real property under Part 3, County Assessment; and\n(ii) the county assessor or the county treasurer shall collect the tax on the personal property in the same manner as real property under Part 13, Collection of Taxes;\n(b) the county assessor is not required to list personal property separately in the assessment roll; and\n(c) the county auditor is not required to identify personal property separately on the statement to the commission required by Section 59-2-322.","path":["Title 59 Revenue and Taxation","Chapter 59-2 Property Tax Act","Part 59-2-3 County Assessment"],"source_url":"https://le.utah.gov/xcode/Title59/Chapter2/59-2-S301.8.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"6c26b905060b1db88df47db57e6f9d1aa17b61b9427d4b7d8cb23675b7383cab","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-59-2-301.7","next":"us-ut/utah-code-59-2-301.9"},"notice":"GroundRules: Original legal text. Not legal advice."}