Utah Administrative Code
Topic - Tax Commission
Title R884 - Property Tax
Rule R884-24P - Property Tax
Section R884-24P-32 - Leasehold Improvements Pursuant to Utah Code Ann. Section 59-2-303
Universal Citation: UT Admin Code R 884-24P-32
Current through Bulletin 2024-18, September 15, 2024
A. The value of leasehold improvements shall be included in the value of the underlying real property and assessed to the owner of the underlying real property.
B. The combined valuation of leasehold improvements and underlying real property required in A. shall satisfy the requirements of Section 59-2-103(1).
C. The provisions of this rule shall not apply if the underlying real property is owned by an entity exempt from tax under Section 59-2-1101.
D. The provisions of this rule shall be implemented and become binding on taxpayers beginning January 1, 2000.
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