Utah § 59-2a-305 Amount of homeowner's credit -- Cost-of-living adjustment -- Limitation -- General Fund as source of credit.

Utah Statutes

§ 59-2a-305 — Amount of homeowner's credit -- Cost-of-living adjustment -- Limitation -- General Fund as source of credit.

Utah § 59-2a-305

Title 59Revenue and Taxation

Ch. 59-2aTax Relief Through Property Tax

Part 59-2a-3Homeowner's Credit

This text of Utah § 59-2a-305 (Amount of homeowner's credit -- Cost-of-living adjustment -- Limitation -- General Fund as source of credit.) 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. § 59-2a-305 (2026).

Text

(1)(1)(a) Subject to Subsection (2), for a calendar year beginning on or after January 1, 2024, a claimant may claim a homeowner's credit that does not exceed the following amounts:If household income isHomeowner's credit$0 -- $13,884$1,259$13,885 -- $18,515$1,105$18,516 -- $23,141$954$23,142 -- $27,770$726$27,771 -- $32,401$577$32,402 -- $36,754$351$36,755 -- $40,840$197

(1)(b) For a calendar year beginning on or after January 1, 2025, the commission shall increase or decrease the household income eligibility amounts and the credits under Subsection (1)(a) by a percentage equal to the percentage difference between the consumer price index for the preceding calendar year and the consumer price index for calendar year 2023.

(2)(2)(a) An individual may not receive the homeowner's credit u

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(1) (1)(a) Subject to Subsection (2), for a calendar year beginning on or after January 1, 2024, a claimant may claim a homeowner's credit that does not exceed the following amounts:If household income isHomeowner's credit$0 -- $13,884$1,259$13,885 -- $18,515$1,105$18,516 -- $23,141$954$23,142 -- $27,770$726$27,771 -- $32,401$577$32,402 -- $36,754$351$36,755 -- $40,840$197
(1)(b) For a calendar year beginning on or after January 1, 2025, the commission shall increase or decrease the household income eligibility amounts and the credits under Subsection (1)(a) by a percentage equal to the percentage difference between the consumer price index for the preceding calendar year and the consumer price index for calendar year 2023.
(2) (2)(a) An individual may not receive the homeowner's credit under this section or the abatement described in Subsection 59-2a-101(21) on 20% of the fair market value of the residence if:
(2)(a)(i) the individual is claimed as a personal exemption on another individual's federal income tax return during any portion of a calendar year for which the individual seeks to claim the homeowner's credit under this section;
(2)(a)(ii) the individual is a dependent with respect to whom another individual claims a tax credit under Section 24(h)(4), Internal Revenue Code, during any portion of a calendar year for which the individual seeks to claim the homeowner's credit under this section; or
(2)(a)(iii) the individual did not own the residence for the entire calendar year for which the individual claims the homeowner's credit.
(2)(b) For a calendar year in which a residence is sold, the amount received as a homeowner's credit under this section or as an abatement described in Subsection 59-2a-101(21) on 20% of the fair market value of the residence shall be repaid to the county on or before the day on which the sale of the residence closes.
(3) A payment for a homeowner's credit allowed by this section, and authorized by Section 59-2a-302, shall be paid from the General Fund.
(4) After the commission has adjusted the homeowner credit amount under Subsection (1)(b), the commission shall increase each homeowner credit amount under Subsection (1) by $49.