Are Rolling Tax Rates the Solution to High Property Taxes?

None by Eric Ray

(KCPW News) High property taxes in 2007 have taxpayers upset. Now some lawmakers are looking for ways to calm the nerves of their constituents. Come January, lawmakers will consider legislation that would base Utah property taxes on a rolling five-year average.

Roger Tew, a tax analyst with the Utah League of Cities and Towns, says a rolling property tax plan is designed to eliminate peaks, however the plan could overvalue property as well. He adds that a constitutional amendment would be necessary to begin a rolling property tax system because the system is based on fair market value.

Republican Senator Howard Stephenson says a rolling property tax average, in his mind, would mean an increase in property taxes every year.

To listen to an interview with Stephenson and Tew, click here.

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