Tax & Accounting Blog

Utah – Tangible Personal Property Exemption – Aggregate Value Increase (Utah Code 59-2-1115)

Blog, ONESOURCE, ONESOURCE Property Tax April 18, 2014

utah tangible personal property

For 2014, tangible personal property having a total aggregate fair market value of $10,000 or less per county is exempt from tax.

  • If the aggregate taxable value of all tangible personal property owned by the legal entity is $10,000 or less, you are eligible to apply for an exemption.
  • This exemption is based on ownership.
  • The application is part of the declaration form.
  • ONESOURCE Property Tax will automatically remind you to fill out the application based on your taxable value totals.