87-0551 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

_____________________________________

XXXXX

Petitioner, :

v. : ORDER OF APPROVAL

PROPERTY TAX DIVISION OF THE : Appeal No. 87-0551

UTAH STATE TAX COMMISSION, :

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. 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: With the information regarding Utah gross revenue and Utah net operating income, an allocation formula was recomputed showing the corrected Utah allocation to be %%%%% where the original was %%%%%. After reviewing the corrected allocation formula the Utah market value should be adjusted to $$$$$. This is a reduction from the original assessment of $$$$$. XXXXX County had standing to object to the assessment of the subject property pursuant to Utah Code Ann. 59-2-1013 but elected not to do so.

ORDER

Based on the foregoing, the Utah State Tax Commission hereby finds the taxable value of the subject property for the tax year 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 5 day of January, 1989.

BY ORDER OF THE UTAH STATE TAX COMMISSION.

ABSENT

R. H. Hansen