Utah § 11-70-401 Enhanced property tax revenue to be paid to fairpark district.

Utah Statutes

§ 11-70-401 — Enhanced property tax revenue to be paid to fairpark district.

Utah § 11-70-401

Title 11Cities, Counties, and Local Taxing Units

Ch. 11-70Utah Fairpark Area Investment and Restoration District

Part 11-70-4Enhanced Property Tax Revenue

This text of Utah § 11-70-401 (Enhanced property tax revenue to be paid to fairpark district.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 11-70-401 (2026).

Text

(1)Subject to Subsection (5), the fairpark district shall be paid 90% of enhanced property tax revenue generated from each parcel of privately owned land within the fairpark district boundary:

(1)(a) beginning the tax year that begins on January 1, 2025; and

(1)(b) until the transition date for that parcel.

(2)Subject to Subsection (5), during the payment period the fairpark district shall be paid up to 100% of enhanced property tax revenue:

(2)(a) generated from designated parcels of privately owned land within a project area; and

(2)(b) as the board specifies in a designation resolution adopted in consultation with a qualified owner.

(3)For purposes of the payment of enhanced property tax revenue under this section, a payment period shall begin, as specified in the designation resolut

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(1) Subject to Subsection (5), the fairpark district shall be paid 90% of enhanced property tax revenue generated from each parcel of privately owned land within the fairpark district boundary:
(1)(a) beginning the tax year that begins on January 1, 2025; and
(1)(b) until the transition date for that parcel.
(2) Subject to Subsection (5), during the payment period the fairpark district shall be paid up to 100% of enhanced property tax revenue:
(2)(a) generated from designated parcels of privately owned land within a project area; and
(2)(b) as the board specifies in a designation resolution adopted in consultation with a qualified owner.
(3) For purposes of the payment of enhanced property tax revenue under this section, a payment period shall begin, as specified in the designation resolution, on January 1 of a year that begins after the designation resolution is adopted.
(4) (4)(a) For purposes of this section, the fairpark district may designate an improved portion of a parcel in a project area as a separate parcel.
(4)(b) A fairpark district designation of an improved portion of a parcel as a separate parcel under Subsection (4)(a) does not constitute a subdivision, as defined in Section 10-20-102 or Section 17-79-102.
(4)(c) A county recorder shall assign a separate tax identification number to the improved portion of a parcel designated by the fairpark district as a separate parcel under Subsection (4)(a).
(5) A host municipality shall be paid a minimum of 25% of the enhanced property tax revenue generated by a property tax imposed by the host municipality to reimburse the host municipality for services the host municipality provides to a project area in accordance with Subsection 11-70-206(6)(c), with the exact amount determined in an agreement between the host municipality and the fairpark district.