Utah has a 4.55 percent corporate income tax rate. Utah also has a 6.10 percent state sales tax rate and an average combined state and local sales tax rate of 7.25 percent. Utah has a 0.47 percent effective property tax rate on owner-occupied housing value.

Where to Report Personal Property on Your Taxes. Claim the itemized deduction on Schedule A – State and local personal property taxes (Line 5c). Taxes you deduct elsewhere on your return — like for a home office or rental — don't qualify for this deduction.

The Utah State Tax Commission defines tangible personal property as material items such as watercraft, aircraft, motor vehicles, furniture and fixtures, machinery and equipment, tools, dies, patterns, outdoor advertising structures, and manufactured homes.

As a homeowner, you'll face property taxes at a state and local level. You can deduct up to $10,000 of property taxes as a married couple filing jointly – or $5,000 if you are single or married filing separately. Depending on your location, the property tax deduction can be very valuable.

Personal Property is taxed based on its taxable value as of January 1 of each year. In order to value personal property, the Utah State Tax Commission provides personal property classification schedules which are used by all county assessors in Utah.

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Contact Salt Lake City State Farm Agent David Rawlings at (801) 466-8982 for life, home, car insurance and more. Get a free quote now.Looking to file a complaint? Want to lookup an agent or a company? Informal probate is the process for asking the court to appoint a personal representative for a decedent's estate without a hearing. Contact Salt Lake City State Farm Agent Curtis Hansen at (801) 521-2558 for life, home, car insurance and more. What is business personal property? What are examples of inventory and supplies? Use the map below to hover over each state to see deadlines and click for more details. How do I fill out my personal property assessment list?

Bill Personal Property Form With Insurance In Salt Lake

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