Homestead Exemption Forms With Multiple Owners In Utah
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Property owners will be taxed on their taxable value, which is 100% of the property's market value for secondary homeowners, and 55% of the property's market value for primary owners.
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. Statute defines residential property, for purposes of the exemption, to be a primary residence.
While the specifics can vary by state, generally, homestead exemptions are only available for an individual or family's primary residence. This means you cannot claim homestead exemptions in multiple states.
In Utah, you can claim a personal exemption of $1,941 for each dependent you claimed on your federal tax return. Exemptions can be claimed for filers, spouses and dependents. Additional exemptions can be claimed for dependents with disabilities.
You must notify the county when you have a primary residential property on which you have claimed the homeowner's exemption and to which you are no longer entitled. You must also report on your Utah income tax return that you no longer qualify for the homeowner's exemption on your primary residence.
Veterans with a 100% disability rating are fully exempt from property taxes. 70-99% may receive a $12,000 exemption from their property's taxable value.
