87-0611 - Centrally Assessed

 

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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