The dark side of Utah’s surging home values: An ‘unprecedented’ tax burden

For homeowners in Utah, it’s no typical tax year. Usually, under the state’s truth in taxation laws, if property values all increase at the same pace, homeowners won’t notice much of a difference on their yearly property tax bill — unless they’re facing a tax hike.

But this year, in the wake of 2021 — the year of relentless and shocking home price increases as the West and the nation’s housing market went haywire — is like no other.

County assessors say they’ve never seen a year like it. And since they’re required by the Utah Constitution to assess home values based on market value, they’re aware of the sticker shock hitting Utah homeowners when they open their property tax notices.