BEFORE THE STATE TAX
COMMISSION OF UTAH
_____________________________________
XXXXX
Petitioner, : ORDER OF APPROVAL
v. :
PROPERTY TAX
DIVISION OF THE : Appeal No. 87-0611
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), a subsidiary of XXXXX, 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: There was an error in Petitioner's XXXXX return. Both the original cost of XXXXX railroad
tank cars to XXXXX and XXXXX and the value assigned at the time of the XXXXX
merger (XXXXX) plus XXXXX improvements were included on form TC-228. This greatly inflated the values used in the
appraisal formula. Petitioner
subsequently filed a revised TC-228 form which is based on original cost plus
XXXXX improvements. The original XXXXX
assessment for XXXXX as determined by Respondent was $$$$$. After correcting for the error the XXXXX
assessment is reduced to $$$$$. XXXXX
counties had standing to object to the assessment of the subject property
pursuant to Utah Code Ann. 59-2-1013 (1953) but elected not to show cause.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the taxable value
of the subject property as of XXXXX, to be $$$$$. 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
Tew
Chairman Commissioner
Joe B.
Pacheco G.
Blaine Davis
Commissioner Commissioner
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