87-0545 - Centrally Assessed

 

BEFORE THE STATE TAX COMMISSION OF UTAH

_____________________________________

XXXXX

Petitioner, )

v. ) ORDER OF APPROVAL

PROPERTY TAX DIVISION OF THE ) Appeal No. 87-0545

STATE TAX COMMISSION OF UTAH, )

Respondent. )

_____________________________________

STATEMENT OF CASE

The above-captioned matter involves an appeal to the Utah State Tax Commission from the assessment by the Property Tax Division of the Utah State Tax Commission on the subject property. XXXXX (Petitioner) asserted that the subject property should have a lower taxable value as of the lien date, XXXXX. Petitioner and Respondent agreed to the following facts: An obsolescence factor of 45% is appropriate in the assessment of the subject property. This factor is the same reduction that Respondent has applied to other uranium properties in Utah that have been impacted by the severe downturn in the uranium market. The original valuation for XXXXX was $$$$$. The recommended revised valuation is $$$$$. XXXXX and XXXXX counties had standing to object to the assessment of the subject property pursuant to Utah Code Ann. 59-2-1013 (1953) but elected not to show cause.

ORDER

Based on the foregoing, the Utah State Tax Commission hereby finds the taxable value of the subject property as of XXXXX to be $$$$$. The Property Tax Division of the Utah State Tax Commission is hereby ordered to adjust its records in accordance with this Order of Approval

DATED this 1 day of December, 1987.

BY ORDER OF THE STATE TAX COMMISSION OF UTAH.

R. H. Hansen Roger O. Tew

Chairman Commissioner

Joe B. Pacheco G. Blaine Davis

Commissioner Commissioner

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