Section R884-24P-33 - 2025 Personal Property Valuation Guides and Schedules Pursuant to Utah Code Ann. Section 59-2-107(1) As used in this rule:(a) "Acquisition cost" means the same as that term is defined in Section 59-2-102.(b)(i) "Actual cost" includes the value of components necessary to complete the vehicle, such as tanks, mixers, special containers, passenger compartments, special axles, installation, engineering, erection, or assembly costs.(ii) Actual cost does not include sales or excise taxes, maintenance contracts, registration and license fees, dealer charges, tire tax, freight, or shipping costs.(c) "Assessing authority" means: (i) the State Tax Commission for property assessed under Title 59, Chapter 2, Part 2, Assessment of Property; and (ii) the county assessor for property assessed under Title 59, Chapter 2, Part 3, County Assessment.(d) "Cost new" means the actual cost of the property when purchased new. (i) Except as otherwise provided in this rule, the assessing authority shall rely on the following sources to determine cost new:(A) documented actual cost of the new or used vehicle; or(B) recognized publications that provide a method for approximating cost new for new or used vehicles.(ii) For the following property purchased used, the assessing authority may determine cost new by dividing the property's actual cost by the percent good factor for that class: (A) Class 6 heavy and medium duty trucks;(B) Class 13 heavy equipment;(C) Class 17 vessels equal to or greater than 31 feet in length; and(D) Class 21 commercial trailers.(e) For purposes of Sections 59-2-108 and 59-2-1115, "item of taxable tangible personal property" means a piece of equipment, machinery, furniture, or other piece of tangible personal property that is functioning at its highest and best use for the purpose it was designed and constructed and is capable of performing that function without being combined with other items of personal property. An item of taxable tangible personal property is not an individual component part of a piece of machinery or equipment, but the piece of machinery or equipment. For example, a fully functioning computer is an item of taxable tangible personal property, but the motherboard, hard drive, tower, or sound card are not.(f) "Percent good" means an estimate of value, expressed as a percentage, based on a property's acquisition cost or cost new, adjusted for depreciation and appreciation. (i) The percent good factor shall be applied against the acquisition cost or the cost new to derive taxable value for the property. (ii) Percent good schedules shall be derived from an analysis of the Internal Revenue Service Class Life, the Marshall and Swift Cost index, other data sources or research, and vehicle valuation guides such as Price Digests.(2) Each year percent good schedules for use in computing personal property valuation shall be updated and recommended by the Property Tax Division for adoption by the Commission by rule in accordance with Section 59-2-107.(a) County assessors may deviate from the schedules when warranted by specific conditions affecting an item of personal property. When a deviation will affect an entire class or type of personal property, a written report, substantiating the changes with verifiable data, must be presented to the Commission. Alternative schedules may not be used without prior written approval of the Commission.(b) A party may request a deviation from the value established by the schedule for a specific item of property if the use of the schedule does not result in the fair market value for the property at the retail level of trade on the lien date, including any relevant installation and assemblage value.(3) This rule does not apply to: (a) a vehicle subject to the age-based uniform fee under Section 59-2-405.1;(b) the following personal property subject to the age-based uniform fee under Section 59-2-405.2: (i) an all-terrain vehicle;(iii) an other motorcycle;(v) a personal watercraft;(vi) a small motor vehicle;(viii) a street motorcycle;(x) a travel trailer; and(xi) a vessel, including an outboard motor of the vessel, that is less than 31 feet in length;(c) a motorhome subject to the uniform statewide fee under Section 59-2-405.3; and(d) an aircraft subject to the uniform statewide fee under Section 72-10-110.5.(4) Other taxable personal property that is not included in the listed classes includes: (a) Equipment leased or rented from inventory is subject to ad valorem tax. Refer to the appropriate property class schedule to determine taxable value.(b) Property held for rent or lease is taxable, and is not exempt as inventory. For entities primarily engaged in rent-to-own, inventory on hand at January 1 is exempt and property out on rent-to-own contracts is taxable.(5) Personal property valuation schedules may not be appealed to, or amended by, county boards of equalization.(6) Taxable personal property, other than personal property subject to an age-based uniform fee under Sections 59-2-405.1 through 59-2-405.3, or a uniform statewide fee under Section 59-2-405, is classified by expected economic life as follows: (a) Class 1 - Short Life Property. (i) Property in this class has a typical life of more than one year and less than four years. It is fungible in that it is difficult to determine the age of an item retired from service.(ii) Property in this class includes: (A) barricades or warning signs;(C) patterns, jigs and dies;(D) pots, pans, and utensils;(E) canned computer software;(H) video tapes, compact discs, and DVDs; and(iii) Except as provided in Subsections (6)(a)(iv) and (v), taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property.(iv) A licensee of canned computer software shall use one of the following substitutes for acquisition cost of canned computer software if no acquisition cost for the canned computer software is available:(A) retail price of the canned computer software;(B) if a retail price is unavailable, and the license is a nonrenewable single year license agreement, the total sum of expected payments during that 12-month period; or(C) if the licensing agreement is a renewable agreement or is a multiple year agreement, the present value of expected licensing fees paid pursuant to the agreement.(v) Video tapes, compact discs, and DVDs shall be valued at $15 per tape or disc for the first year and $3 per tape or disc thereafter. Table 1 Short Life Property |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 76% |
2023 | 47% |
2022 and prior | 12% |
(b) Class 2 - Computer Integrated Machinery. (i) Machinery shall be classified as computer integrated machinery if the following conditions are met: (A) except as provided in Subsection (6)(b)(iv), equipment is sold as a single unit.(B) the machinery cannot operate without the computer and the computer cannot perform functions outside the machinery.(C) the machinery can perform multiple functions and is controlled by a programmable central processing unit.(D) the total cost of the machinery and computer combined is depreciated as a unit for income tax purposes.(E) the capabilities of the machinery cannot be expanded by substituting a more complex computer for the original.(ii) Property in this class includes: (C) high-tech medical and dental equipment such as MRI equipment, CAT scanners, and mammography units.(iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. (iv) If the invoice for computer integrated machinery separately itemizes the computer from other machinery, the computer shall be valued as Class 12 property and the machinery shall be valued as Class 8 property. Table 2 Computer Integrated Machinery |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 96% |
2023 | 89% |
2022 | 79% |
2021 | 68% |
2020 | 56% |
2019 | 43% |
2018 | 29% |
2017 and prior | 14% |
(c) Class 3 - Short Life Trade Fixtures. (i) Property in this class is subject to rapid functional and economic obsolescence or severe wear and tear.(ii) Property in this class includes: (E) small equipment rentals;(F) rent-to-own merchandise;(G) telephone equipment and systems;(J) video game machines; and(iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 3 Short Life Trade Fixtures |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 90% |
2023 | 79% |
2022 | 59% |
2021 | 41% |
2020 and prior | 21% |
(d) Class 5 - Long Life Trade Fixtures. (i) Property in this class is subject to functional obsolescence in the form of style changes.(ii) Property in this class includes: (C) booths, tables and chairs;(D) beauty and barber shop fixtures;(E) cabinets and shelves;(F) displays, cases and racks;(J) signs, mechanical and electrical; and(K) LED component of a billboard.(iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 5 Long Life Trade Fixtures |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 96% |
2023 | 90% |
2022 | 83% |
2021 | 74% |
2020 | 64% |
2019 | 52% |
2018 | 39% |
2017 | 26% |
2016 and prior | 13% |
(e) Class 6 - Heavy and Medium Duty Trucks. (i) Property in this class includes: (D) concrete pump trucks; and(E) trucks with well-boring rigs.(ii) Taxable value shall be calculated by applying the percent good factor against the cost new.(iii)(A) Cost new of a vehicle in this class shall be the documented actual cost of the vehicle for new vehicles.(B) If the documented actual cost of the vehicle for new vehicles is unavailable, the cost new shall be 75% of the manufacturer's suggested retail price.(iv) For state assessed vehicles, cost new shall include the value of attached equipment.(v) The 2025 percent good applies to 2025 models purchased in 2024.(vi) Trucks weighing two tons or more have a residual taxable value of $1,750. Table 6 Heavy and Medium Duty Trucks |
Model Year | Percent Good of Cost New |
2025 | 98% |
2024 | 97% |
2023 | 95% |
2022 | 93% |
2021 | 87% |
2020 | 82% |
2019 | 76% |
2018 | 71% |
2017 | 65% |
2016 | 60% |
2015 | 54% |
2014 | 49% |
2013 | 43% |
2012 and prior | 38% |
(f)(i) Class 7 - Medical and Dental Equipment. (ii) Class 7 has been merged into Class 8.(g) Class 8 - Machinery and Equipment and Medical and Dental Equipment. (i) Machinery and equipment in this class is subject to considerable functional and economic obsolescence created by competition as technologically advanced and more efficient equipment becomes available. Machinery and equipment in this class includes: (A) manufacturing machinery;(D) distillery equipment;(E) refrigeration equipment;(F) laundry and dry cleaning equipment;(G) machine shop equipment; (H) processing equipment; (I) auto service and repair equipment; (M) bottling or cannery equipment; and (ii) Medical and dental equipment in this class is subject to a high degree of technological development by the health industry. Medical and dental equipment in this class includes:(A) medical and dental equipment and instruments;(B) exam tables and chairs;(iii) Except as provided in Subsection (6)(g)(iv), taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property.(iv) Notwithstanding Subsection (6)(g)(iii), the taxable value of pollution control equipment as defined in Section 59-2-301.9, shall be calculated pursuant to Section 59-2-301.9. Table 8 Machinery and Equipment Including Medical and Dental Equipment |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 97% |
2023 | 93% |
2022 | 89% |
2021 | 82% |
2020 | 74% |
2019 | 65% |
2018 | 54% |
2017 | 43% |
2016 | 33% |
2015 | 22% |
2014 and prior | 11% |
(h)(i) Class 9 - Off-Highway Vehicles.(ii) As required by Section 59-2-405.2, an off-highway vehicle is subject to an age-based uniform fee in lieu of property tax. (i)(i) Class 10 - Railroad Cars.(ii) Property in this class is subject to heavy wear and tear, and functional and economic obsolescence resulting from developing technology within the shipping industry.(iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 10 Railroad Cars |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 97% |
2023 | 95% |
2022 | 93% |
2021 | 90% |
2020 | 85% |
2019 | 78% |
2018 | 69% |
2017 | 61% |
2016 | 53% |
2015 | 44% |
2014 | 36% |
2013 | 28% |
2012 | 19% |
2011 and prior | 10% |
(j)(i) Class 11 - Street Motorcycles.(ii) As required by Section 59-2-405.2, a street motorcycle is subject to an age-based uniform fee in lieu of property tax.(k) Class 12 - Computer Hardware. (i) Property in this class includes: (A) data processing equipment;(C) main frame computers;(D) computer equipment peripherals;(E) cad or cam systems; and(ii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 12 Computer Hardware |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 62% |
2023 | 46% |
2022 | 21% |
2021 | 9% |
2020 and prior | 7% |
(l) Class 13 - Heavy Equipment. (i) Property in this class includes: (A) construction equipment;(B) excavation equipment;(ii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. (iii) For 2025 model equipment purchased in 2024, the model equipment is valued at 100% of acquisition cost. Table 13 Heavy Equipment |
Model Year | Percent Good of Acquisition Cost |
2024 | 73% |
2023 | 71% |
2022 | 69% |
2021 | 66% |
2020 | 64% |
2019 | 62% |
2018 | 59% |
2017 | 57% |
2016 | 54% |
2015 | 52% |
2014 | 50% |
2013 | 47% |
2012 | 45% |
2011 and prior | 42% |
(m)(i) Class 14 - Motor Homes.(ii) As required by Section 59-2-405.3, a motor home is subject to an age-based uniform fee in lieu of property tax.(n) Class 15 - Semiconductor Manufacturing Equipment.(i) This class applies to equipment:(A) used in the production of semiconductor products; and(B) that is subject to significant economic and functional obsolescence due to rapidly changing technology and economic conditions.(ii) Property in this class includes: (A) crystal growing equipment;(B) die assembly equipment;(C) wire bonding equipment;(D) encapsulation equipment;(E) semiconductor test equipment;(F) clean room equipment;(G) chemical and gas systems related to semiconductor manufacturing;(H) deionized water systems; (I) electrical systems; and(J) photo mask and wafer manufacturing dedicated to semiconductor production.(iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 15 Semiconductor Manufacturing Equipment |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 47% |
2023 | 34% |
2022 | 24% |
2021 | 15% |
2020 and prior | 6% |
(o) Class 16 -- Long Life Property. (i) Property in this class has a long physical life with little obsolescence.(ii) Property in this class includes: (A) billboards, excluding LED component;(D) ski lift and tram towers;(E) non-farm grain elevators;(G) underground fiber optic cable;(H) solar panels and supporting equipment; and (I) pipe laid in or affixed to land. (iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 16 Long Life Property |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 97% |
2023 | 96% |
2022 | 94% |
2021 | 91% |
2020 | 90% |
2019 | 89% |
2018 | 85% |
2017 | 80% |
2016 | 73% |
2015 | 67% |
2014 | 59% |
2013 | 56% |
2012 | 54% |
2011 | 47% |
2010 | 40% |
2009 | 31% |
2008 | 25% |
2007 | 18% |
2006 and prior | 9% |
(p) Class 17 - Vessels Equal to or Greater Than 31 Feet in Length. (i) Property in this class includes: (A) houseboats equal to or greater than 31 feet in length;(B) sailboats equal to or greater than 31 feet in length; and(C) yachts equal to or greater than 31 feet in length.(ii) A vessel, including an outboard motor of the vessel, under 31 feet in length: (A) is not included in Class 17;(B) may not be valued using Table 17; and(C) is subject to an age-based uniform fee under Section 59-2-405.2.(iii) Taxable value shall be calculated by applying the percent good factor against the cost new of the property.(iv) The assessing authority shall rely on the following sources to determine cost new for property in this class:(A) the following publications or valuation methods:(I) the manufacturer's suggested retail price listed in the ABOS Marine Blue Book;(II) for property not listed in the ABOS Marine Blue Book but listed in the NADA Marine Appraisal Guide, the NADA average value for the property divided by the percent good factor; or(III) for property not listed in the ABOS Marine Blue Book or the NADA Appraisal Guide: (aa) the manufacturer's suggested retail price for comparable property; or (bb) the cost new established for that property by a documented valuation source; or(B) the documented actual cost of new or used property in this class.(v) The 2025 percent good applies to 2025 models purchased in 2024.(vi) Property in this class has a residual taxable value of $1,000. Table 17 Vessels Equal to or Greater Than 31 Feet in Length |
Model Year | Percent Good of Acquisition Cost |
2025 | 90% |
2024 | 77% |
2023 | 75% |
2022 | 73% |
2021 | 71% |
2020 | 69% |
2019 | 67% |
2018 | 65% |
2017 | 63% |
2016 | 61% |
2015 | 58% |
2014 | 56% |
2013 | 54% |
2012 | 52% |
2011 | 50% |
2010 | 48% |
2009 | 46% |
2008 | 44% |
2007 | 42% |
2006 | 40% |
2005 | 38% |
2004 and prior | 35% |
(q)(i) Class 17a - Vessels Less Than 31 Feet in Length.(ii) As required by Section 59-2-405.2, a vessel less than 31 feet in length is subject to an age-based uniform fee in lieu of property tax.(r)(i) Class 18 - Travel Trailers and Class 18a -- Tent Trailers or Truck Campers.(ii) As required by Section 59-2-405.2, a travel trailer, tent trailer, and truck camper is subject to an age-based uniform fee in lieu of property tax.(s) Class 20 - Petroleum and Natural Gas Exploration and Production Equipment.(i) Property in this class is subject to significant functional and economic obsolescence due to the volatile nature of the petroleum industry.(ii) Property in this class includes: (A) oil and gas exploration equipment;(B) distillation equipment;(D) holding and storage facilities;(F) reinjection equipment;(I) well-site generators, transformers, and power lines;(L) radio telemetry units; and(M) support and control equipment.(iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 20 Petroleum and Natural Gas Exploration and Production Equipment |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 97% |
2023 | 95% |
2022 | 93% |
2021 | 91% |
2020 | 85% |
2019 | 78% |
2018 | 69% |
2017 | 58% |
2016 | 49% |
2015 | 40% |
2014 | 30% |
2013 | 21% |
2012 and prior | 11% |
(t) Class 21 - Commercial Trailers. (i) Property in this class includes: (A) dry freight van trailers;(B) refrigerated van trailers;(E) livestock trailers; and(ii)(A) Taxable value shall be calculated by applying the percent good factor against the cost new of the property. (B) For state assessed vehicles, cost new shall include the value of attached equipment.(iii) The 2025 percent good applies to 2025 models purchased in 2024.(iv) Commercial trailers have a residual taxable value of $1,000. Table 21 Commercial Trailers |
Model Year | Percent Good of Acquisition Cost |
2025 | 95% |
2024 | 88% |
2023 | 85% |
2022 | 83% |
2021 | 80% |
2020 | 77% |
2019 | 74% |
2018 | 71% |
2017 | 68% |
2016 | 65% |
2015 | 62% |
2014 | 59% |
2013 | 56% |
2012 | 53% |
2011 | 50% |
2010 | 47% |
2009 and prior | 44% |
(u)(i) Class 21a -- Other Non-Commercial Trailers.(ii) As required by Section 59-2-405.2, a trailer in this class is subject to an age-based uniform fee in lieu of property tax.(v) Class 22 - Passenger Cars, Light Trucks/Utility Vehicles, and Vans. (i) Property in this class is the following: (A) domestic passenger cars;(B) foreign passenger cars;(D) utility vehicles; and(ii) As required by Section 59-2-405.1, property in this class is subject to an age-based uniform fee in lieu of property tax.(w)(i) Class 22a - Small Motor Vehicles.(ii) As required by Section 59-2-405.2, a small motor vehicle is subject to an age-based uniform fee in lieu of property tax.(x)(i) Class 23 - Aircraft Required to be Registered With the State.(ii) As required by Section 59-2-404, aircraft required to be registered with the state is subject to a statewide uniform fee in lieu of property tax.(y) Class 24 - Leasehold Improvements on Exempt Real Property.(i) This class applies to leasehold improvements where the underlying real property is owned by an entity that is exempt from property tax under Section 59-2-1101.(ii) Property in this class includes: (A) walls and partitions;(B) plumbing and roughed fixtures;(C) floor coverings other than carpet;(F) suspended or acoustical ceilings;(G) heating and cooling systems; and(H) iron or millwork trim.(iii) Taxable value is calculated by applying the percent good factor against the cost of acquisition, including installation.(iv) Short life leasehold improvements shall be valued under Class 3. Table 24 Leasehold Improvements on Tax Exempt Real Property |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 94% |
2023 | 88% |
2022 | 82% |
2021 | 77% |
2020 | 71% |
2019 | 65% |
2018 | 59% |
2017 | 54% |
2016 | 48% |
2015 | 42% |
2014 | 36% |
2013 | 30% |
(z) Class 25 - Aircraft Parts Manufacturing Tools and Dies.(i) Property in this class is subject to heavy wear and tear, and rapid physical, functional, and economic obsolescence due to rapid technological and economic shifts in the airline parts manufacturing industry. (ii) Property in this class includes:(A) aircraft parts manufacturing jigs and dies;(B) aircraft parts manufacturing molds;(C) aircraft parts manufacturing patterns;(D) aircraft parts manufacturing taps and gauges; and(E) aircraft parts manufacturing test equipment. (iii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 25 Aircraft Parts Manufacturing Tools and Dies |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 91% |
2023 | 79% |
2022 | 60% |
2021 | 42% |
2020 | 23% |
2019 and prior | 4% |
(aa)(i) Class 26 - Personal Watercraft.(ii) As required by Section 59-2-405.2, a personal watercraft is subject to an age-based uniform fee in lieu of property tax.(bb) Class 27 - Electrical Power Generating Equipment and Fixtures. (i) Property in this class includes: (A) electrical power generators; and(ii) Taxable value shall be calculated by applying the percent good factor against the acquisition cost of the property. Table 27 Electrical Power Generating Equipment and Fixtures |
Year of Acquisition | Percent Good of Acquisition Cost |
2024 | 97% |
2023 | 95% |
2022 | 92% |
2021 | 90% |
2020 | 87% |
2019 | 84% |
2018 | 82% |
2017 | 79% |
2016 | 77% |
2015 | 74% |
2014 | 71% |
2013 | 69% |
2012 | 66% |
2011 | 64% |
2010 | 61% |
2009 | 58% |
2008 | 56% |
2007 | 53% |
2006 | 51% |
2005 | 48% |
2004 | 45% |
2003 | 43% |
2002 | 40% |
2001 | 38% |
2000 | 35% |
1999 | 32% |
1998 | 30% |
1997 | 27% |
1996 | 25% |
1995 | 22% |
1994 | 19% |
1993 | 17% |
1992 | 14% |
1991 | 12% |
1990 and prior | 9% |
This rule shall be implemented and become binding on taxpayers beginning January 1, 2025.
Utah Admin. Code R884-24P-33
Amended by Utah State Bulletin Number 2014-22, effective 10/23/2014Amended by Utah State Bulletin Number 2015-22, effective 10/22/2015Amended by Utah State Bulletin Number 2016-23, effective 11/7/2016Amended by Utah State Bulletin Number 2017-23, effective 11/9/2017Amended by Utah State Bulletin Number 2018-23, effective 11/13/2018Amended by Utah State Bulletin Number 2019-22, effective 10/24/2019Amended by Utah State Bulletin Number 2020-21, effective 10/20/2020Amended by Utah State Bulletin Number 2021-23, effective 11/15/2021Amended by Utah State Bulletin Number 2022-22, effective 11/3/2022Amended by Utah State Bulletin Number 2023-21, effective 10/27/2023Amended by Utah State Bulletin Number 2024-24, effective 1/1/2025