59-2-704.5 - Commission to adopt rules -- Legislative review.
59-2-704.5. Commission to adopt rules -- Legislative review.
(1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, andafter receiving the advice of the Utah Assessors Association, the commission shall by rule adoptstandards for determining acceptable assessment levels and valuation deviations within eachcounty. The standards shall be used for determining whether factoring or corrective action isrequired under Subsection 59-2-704(2).
(2) As part of its review of the standards for determining acceptable assessment levelsand valuation deviations within each county, the commission shall consider any relevantstandards promulgated by the International Association of Assessing Officers.
(3) By October 1, 1998, and every five years thereafter, the Revenue and TaxationInterim Committee shall review the commission's standards and determine whether the standardsshould be modified.
Amended by Chapter 382, 2008 General Session