Section R884-24P-71 - Agreements with Commercial or Industrial Taxpayers for Equal Property Tax Payments Pursuant to Utah Code Ann. Section 59-2-1308.5(1) An agreement with a commercial or industrial taxpayer for equal property tax payments under Section 59-2-1308.5 is effective: (a) the current calendar year, if the agreement is agreed to by all parties on or before May 31; or(b) the subsequent calendar year, if the agreement is agreed to by all parties after May 31.(2) An agreement under Subsection (1) affects only those taxing entities that are a party to the agreement.(3) The commission shall ensure that an agreement under Subsection (1) does not affect the calculation of the certified tax rate by adjusting the formula under Section 59-2-924 so that the collection ratio for each taxpayer that is a party to the agreement is based on the amount that would have been collected according to the same valuation and assessment methodologies that would have been applied in the absence of the agreement.Utah Admin. Code R884-24P-71