BEFORE THE UTAH STATE TAX
COMMISSION
_____________________________________
XXXXX
:
Petitioner, : FINDINGS OF FACT,
v. : CONCLUSIONS OF LAW
: AND FINAL
DECISION
PROPERTY TAX
DIVISION OF THE : Appeal No. 88-1229
UTAH STATE TAX COMMISSION, :
Respondent. :
_____________________________________
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
Chairman Commissioner