Tax Exempt Form 2024 Utah. The utah state constitution, article xiii, § 3, allows county assessors to exempt from taxation 45% of the fair market value of residential property and up to one acre of land. The governor’s proposed budget characterizes the move as a “major tax overhaul,” and one that the utah state tax commissions estimates will cost the state about $143.8.
The governor’s proposed budget characterizes the move as a “major tax overhaul,” and one that the utah state tax commissions estimates will cost the state about $143.8. State lawmakers prioritized cutting the income tax rate from 4.95% to 4.55% between 2022 and 2024.