BEFORE THE STATE TAX
COMMISSION OF UTAH
_____________________________________
XXXXX
CORPORATION, )
Petitioner, :
ORDER OF APPROVAL )
PROPERTY TAX
DIVISION OF THE : Appeal No. 87-0604
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:
During XXXXX, Petitioner had a breach in their outer dike which flooded and
destroyed their solar pond evaporating system.
The original XXXXX assessment allowed for obsolescence on improvements
at a rate of 40% of market value but no obsolescence was allowed for equipment
as a result of the breach. The XXXXX
equipment schedules for mining equipment include some obsolescence, but
Petitioner and Respondent agreed that additional obsolescence should be
allowed. The original valuation of the
subject property was $$$$$. The
recommended revised valuation is $$$$$. XXXXX Counties had standing to object
to the assessment of the subject property pursuant to Utah Code Ann. §5-2-1013
(1953) but elected not to show cause.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the taxable value
of the subject property as of XXXXX to be $$$$$. 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 25 day of January, 1988.
BY ORDER OF THE STATE TAX COMMISSION OF UTAH.
R. H. Hansen G.
Blaine Davis
Chairman Commissioner