New for 2025

1. Inconsequential Personal Property Exemption (59-2-1115): the taxable tangible personal property of a taxpayer is exempt from taxation if the taxable tangible personal property has a total aggregate fair market value per county of $29,300 or less for 2025.
2. For 2025, the Utah Legislature shifted all non-mobile flight equipment from centrally assessed to locally assessed (Utah Code 59-2-201 (1)).
   Mobile flight equipment is defined in Utah Code 59-2-102 (25)(b)(i). All other equipment not defined in this code will be reported to the assessor’s office.  Non-mobile flight equipment includes assets such as but not limited to:
   • Consumable Spare Parts
   • Plant and Equipment owned by Air Carrier
   • Non-Licensed Vehicles
   • Airport and Office Equipment
3. The Utah Legislature has removed Class 28 – Non-Capitalized Personal Property from the Recommended Personal Property Valuation Schedule. If your business had reported assets in Class 28, those assets have been reclassified per the asset description provided.
4. In 2023, The Utah Legislature deemed supplies as exempt from taxation. This exemption does not include expensed or capitalized items. Expensed and capitalized items must be reported.
5. Utah law states if a business files and qualifies for the personal property tax exemption, a county assessor may not require the business to file a business personal property signed statement for each continuing consecutive year for which the taxpayer qualifies for the exemption. Please note: If the total aggregate value of the personal property exceeds $29,300 the business is required to file. The Weber County Assessor’s Office will notify you if your business has filed and qualified for the exemption.
6. Acquisition cost is now defined under Utah Code 59-2-102 (1). The definition is as follows: “Acquisition cost” means the cost required to put an item of tangible personal property into service
   Acquisition costs include:
   (i) the purchase price of new or used items;
   (ii) the cost of freight, shipping, loading at origin, unloading at destination, crating, skidding, or any other applicable cost of shipping;
   (iii) the cost of installation, engineering, rigging, erection, or assembly, including foundations, piling, utility connections, or similar costs; and
   (iv) sales and use taxes.