Budget & Taxes (Revenue)

HB 484 limits how much additional property tax revenue Utah school districts and local taxing entities can collect without voter approval, capping increases at 20% of their previous year's revenue. It requires voter approval for tax hikes exceeding this limit and eliminates a protection period that previously shielded school districts from losing state funding when lowering tax rates. The bill also phases out excess state funding over three years if a school district reduces its certified tax rate, ensuring funding aligns with current property valuations. This directly affects school districts' budgets and local tax collection processes under Utah law.

HJR 20 proposes a constitutional amendment to require voter approval for most tax increases and government debt in Utah. If passed, it would mandate that taxpayers vote to approve any rise in tax revenue or new borrowing by state or local governments, limit annual spending without voter consent, and require refunds of excess tax revenue. The amendment also specifies that residential property must be assessed using sales comparison (standard home valuation method) and allows the legislature to exempt business personal property from taxes. This change would affect all Utah taxpayers and government entities by shifting key budgetary decisions to voter approval.

SB 231 modifies Utah's property tax system for large energy users (facilities with 100+ megawatts of cumulative electricity demand). It prohibits new tax increment financing agreements (a tool for funding development projects) for projects containing such "large load customers" after May 6, 2026, affecting cities, counties, and special districts. The bill also requires large load customers to notify county auditors and treasurers of their location. These changes adjust how tax revenue is distributed and restrict development funding for major energy consumers.