87-0555 - Centrally Assessed

 

BEFORE THE STATE TAX COMMISSION OF UTAH

_____________________________________

XXXXX

            Petitioner,                                                         )

v.                                                                                 )           ORDER OF APPROVAL

PROPERTY TAX DIVISION OF THE                       )           Appeal No. 87-0555

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.  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: Well No. API No. XXXXX, Bluff XXXXX, was plugged and abandoned and accepted as such by the Utah Division of Oil, Gas & Mining on XXXXX.  No production was reported for XXXXX.  Valuation should be reduced by the shut-in flat well rate of $$$$$ since no such equipment was in place on the subject well as of the lien date, XXXXX.  The total taxable value is reduced from $$$$$ to $$$$$.  XXXXX County 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

            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 ordered to adjust its records in accordance with this decision.

            DATED this 1 day of October, 1987.

BY ORDER OF THE STATE TAX COMMISSION OF UTAH.

                                                                                    ABSENT

R. H. Hansen                                                                Roger O. Tew

Chairman                                                                      Commissioner

Joe B. Pacheco                                                            G. Blaine Davis

Commissioner                                                               Commissioner

^^