BEFORE THE STATE TAX COMMISSION OF UTAH
L.I.D. CONSULTING CORP.,
v. : INFORMAL DECISION
COUNTY BOARD OF EQUALIZATION OF )
WEBER COUNTY, : Appeal Nos. 86 0978 to 86 0989
STATE OF UTAH, : Serial No. see attachment
STATEMENT OF CASE
This matter came before the Utah State Tax Commission on March 17, 1987. James E. Harward, Hearing Officer, heard the matter for the Tax Commission. Les D. Cragun appeared representing the Petitioner. Sheryl Madsen appeared representing the Respondent.
The subject property is a vacant car dealership including showrooms, shop space and lot area. In addition, there are six homes surrounding the car dealership which were purchased for expansion purposes. In the spring of 1986, the subject property was vacated. It had been up for sale for approximately two years for $425,000. No offers were received. The Board of Equalization set the value at $541,231 for all of the parcels. The Petitioner requests that it be reduced to $425,000. The listing price which would indicate the upper limit of value.
The Respondent indicated that commercial land is being sold for $5.00 a square foot with comparables ranging from $5.00 to $6.15 a square foot. Buildings were then placed on at a residual value of $5.50 a square foot. During the course of the hearing it was concluded that the values placed on the homes were fair and reasonable and, therefore, the Petitioner did not dispute those.
DECISION AND ORDER
On the foregoing, it is the Decision and Order that the values placed upon the subject parcels by the Respondent are reasonable and supported by the evidence. On the other hand, the Petitioner failed to bear its burden of proof in establishing a value which would be any other than that determined by the Board of Equalization. The Petitioner's argument that $425,000 would indicate the upper limit of value because it was a listing price of the subject property carries little weight. Therefore, the determination of the Board of Equalization is to stand, and the Petitioner's petition is denied.
DATED this 24 day of April, 1987.
BY ORDER OF THE STATE TAX COMMISSION OF UTAH.
R. H. Hansen Roger O. Tew
Joe B. Pacheco G. Blaine Davis