87-0604 - Centrally Assessed

 

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