89-0645 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

_____________________________________

XXXXX

Petitioner, : ORDER OF APPROVAL

:

v. :

PROPERTY TAX DIVISION OF THE : Appeal Nos. 89-0645

UTAH STATE TAX COMMISSION, : and 91-0982

: Tax Type: Cent. Assessed

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 on the subject property. Petitioner asserted that the subject property should have a lower market value as of the lien dates XXXXX, XXXXX and XXXXX.

Petitioner and Respondent have agreed that an adjustment of the valuation is necessary based on the following: 1) The XXXXX original valuation was based on prior ownership data since new ownership data was limited until after an audit was conducted. The revised valuation reflects the market value of purchase price just prior to the lien date; 2) The XXXXX revised valuation is the result of the reappraisal of assets; and 3) The XXXXX revised valuation reflects (a) reappraisal of improvements and (b) elimination of $$$$$ value due to the termination of operations in XXXXX in consequence of non-compliance to state environmental regulations. Therefore, the values for the XXXXX, XXXXX and XXXXX tax years should be adjusted to $$$$$, $$$$$ and $$$$$ respectively.

XXXXX County had standing to object to the assessment of the subject property pursuant to Utah Code Ann. 59-2-1007, but elected not to do so.

ORDER

Based on the foregoing, the Utah State Tax Commission hereby finds the market value of the subject property for the tax years XXXXX, XXXXX and XXXXX are $$$$$, $$$$$ and $$$$$ respectively.

The Property Tax Division is hereby ordered to adjust its records in accordance with this order of approval. The XXXXX County Auditor is also authorized to adjust its records in accordance with the revised notice of assessment.

DATED this 16th day of July, 1993.

BY ORDER OF THE UTAH STATE TAX COMMISSION.

W. Val Oveson Roger O. Tew

Chairman Commissioner

Joe B. Pacheco Alice Shearer

Commissioner Commissioner