85-0073 - Centrally Assessed

 

BEFORE THE STATE TAX COMMISSION OF UTAH

_____________________________________

XXXXX,                                                                                 )

                                                                                    :

            Petitioner,                                                         )

                                                                                    :

v.                                                                                 )           ORDER OF APPROVAL

                                                                                    :

                                                                                    )

PROPERTY TAX DIVISION OF THE                       :           Appeal No. 84-0035

STATE TAX COMMISSION OF UTAH,                  )           85-0073, and 86-0283

                                                                                    :

            Respondent.                                                     )

_____________________________________

            The Utah State Tax Commission (Commission) convened a hearing on XXXXX, at the request of the parties, XXXXX (XXXXX), Property Tax Division (Division) and the intervening counties (Counties), to consider a proposed settlement of XXXXX's valuation protests of the Division's original assessments for ad valorem tax years XXXXX, XXXXX and XXXXX.  The parties appeared through and were represented by XXXXX and XXXXX for XXXXX, by XXXXX and XXXXX for the Division and by XXXXX for the Counties.

            The parties submitted to the Commission a document entitled Stipulation for Dismissal which the parties intended to file in the United States District Court for the District of Utah, Central Division, in order to have dismissed certain related federal litigation.  The parties represented to the Commission that the proposed values represented compromise by each of them to arrive at a reasonable estimate of fair market value for XXXXX's operating properties for XXXXX, XXXXX and XXXXX and recommended that the Commission approve such values.  Amended appraisal reports were submitted and an explanation of how the new values were arrived at was presented.

DECISION AND ORDER

            The Commission, having received and considered the appraisal reports together with the Stipulation for Dismissal and the representations of the parties, and having independently reviewed the matter, does hereby decide that the stipulated values represent reasonable estimates of fair market value for XXXXX's operating properties for ad valorem tax years XXXXX, XXXXX and XXXXX, and that it is in the best interests of the State to approve the stipulated values.  The Property Tax Division is, therefore, instructed to amend the state assessment rolls to reflect assessed values of $$$$$ and $$$$$ for XXXXX for ad valorem tax years XXXXX and XXXXX, and to reflect a taxable value of $$$$$ for XXXXX for ad valorem tax year XXXXX, and to transmit the same to the appropriate counties.

            DATED this 22 day of June, 1987.

BY ORDER OF THE STATE TAX COMMISSION OF UTAH.

R. H. Hansen                                                                Roger O. Tew

Chairman                                                                      Commissioner

Joe B. Pacheco                                                            G. Blaine Davis

C