UT SB0078

Authorizes counties to establish discretionary property tax relief programs for individuals with household income ≤$45,000, providing up to 50% tax abatement on primary residences, funded through a separate county relief levy that reimburses impacted taxing entities

Creates a nondiscretionary property tax deferral for homeowners age 65+ with household income ≤$75,000, allowing eligible owners to defer property taxes exceeding their base year amount, with deferred taxes accumulating as a lien at 3% interest until the property is sold or no longer used as primary residence

Repeals existing property tax relief programs including the renter's credit, homeowner's credit, indigent individual abatement, discretionary deferral, and nondiscretionary deferral for property with qualifying increases

Authorizes the Multicounty Appraisal Trust to make loans to counties from the Property Tax Valuation Fund to cover costs from granting nondiscretionary deferrals, with counties prohibited from raising certified tax rates due to reduced revenue from deferrals

Appropriates $1,148,000 from the General Fund for FY 2027 to the Utah Association of Counties for administering the deferral loan program, with an effective date of January 1, 2027