BEFORE THE STATE TAX COMMISSION OF UTAH
v. : ORDER OF APPROVAL
PROPERTY TAX DIVISION OF THE :
STATE TAX COMMISSION OF UTAH, ) Appeal No. 87-0876
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) asserted that the subject property should have a lower taxable value as of lien date XXXXX. Petitioner and Respondent agreed to the following facts: Certain equipment in Code A Outside has been reduced to a market value of 10% of the value previously listed, for a total decrease in equipment of $$$$$. The equipment changes do not affect the total value. The capitalization rate was increased to XXXXX from XXXXX to allow for the risk factor which was understated on the earlier return. The original valuation was $$$$$. The proposed revised valuation is $$$$$. XXXXX Counties had standing to object to the assessment of the subject property pursuant to Utah Code Ann. 59-2-1013 (1953) but elected not to show cause.
Based on the foregoing, the Utah State Tax Commission finds the taxable value of the subject property as of XXXXX, to be $$$$$. 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 11 day of December, 1987.
BY ORDER OF THE STATE TAX COMMISSION OF UTAH.
R. H. Hansen Roger O. Tew
Joe B. Pacheco G. Blaine Davis