BEFORE THE UTAH STATE TAX COMMISSION
Petitioner, : FINDINGS OF FACT,
v. : CONCLUSIONS OF LAW
: AND FINAL DECISION
PROPERTY TAX DIVISION OF THE : Appeal No. 88-1229
UTAH STATE TAX COMMISSION, :
This matter came before the Utah State Tax Commission for a prehearing conference on XXXXX. After listening to the parties the matter was converted to a hearing pursuant to the Rules of Administrative Procedure. Evidence and arguments was presented on behalf of the Petitioner and Respondent. The Tax Commission after reviewing the recommendation of the Presiding Officer and the facts and evidence presented at the hearing makes its:
FINDINGS OF FACT
1. Tax in question is property tax.
2. The Petitioner purchased a 25% XXXXX for $$$$$. This XXXXX was purchased on a bid basis. The Petitioner argues that this establishes a fair market value for tax purposes.
3. The Respondent argues that they complied with the provisions of R84-lOP-l which provides the formula for determining market value for assessment purposes.
DECISION AND ORDER
The Tax Commission finds that the sale of 1/4 XXXXX of the property in question is not sufficient to determine the market value of the subject property. A full appraisal and analysis of the Market conditions and comparable sales of like kind properties was not presented. Therefore, the Tax Commission finds that insufficient evidence has been presented to rebut the presumption of correctness in favor of the Respondent and the Respondent's appraisal technique as set out in Tax Commission Rule R84-lOP-l.
DATED this 24 day of February, 1989.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
R. H. Hansen Roger O. Tew