If you just purchased a property in Utah that may have been declared by the previous owner as a 2nd home, you’ll need to update your Primary Residence status by filling out the Primary Residence Exemption (PRE) Form on the County Assessor’s website at www.summitcountyassessor.org. Properties that are granted a primary residence exemption are only taxed at 55% of assessed value. The exemption can only be granted on up to one acre. Any remaining acreage will be taxed at 100%.