2006 Utah Code - 59-2-303.1 — Mandatory cyclical appraisals.

     59-2-303.1.   Mandatory cyclical appraisals.
     (1) Beginning January 1, 1994, each county assessor shall annually update property values of property as provided in Section 59-2-301 based on a systematic review of current market data. In addition, the county assessor shall complete a detailed review of property characteristics for each property at least once every five years.
     (a) The commission shall take corrective action if the commission determines that:
     (i) a county assessor has not satisfactorily followed the current mass appraisal standards, as provided by law;
     (ii) the sales-assessment ratio, coefficients of dispersion, or other statistical measures of appraisal performance related to the studies required by Section 59-2-704 are not within the standards provided by law; or
     (iii) the county assessor has failed to comply with the requirements of Subsection (1).
     (b) For purposes of this section, "corrective action" includes:
     (i) factoring pursuant to Section 59-2-704;
     (ii) notifying the state auditor that the county failed to comply with the requirements of this section; or
     (iii) filing a petition for a court order requiring a county to take action.
     (2) (a) By July 1, 1993, each county assessor shall prepare a five-year plan to comply with the requirements of Subsection (1).
     (b) The plan shall be available in the county assessor's office for review by the public upon request.
     (c) The plan shall be annually reviewed and revised as necessary.

Amended by Chapter 271, 1995 General Session