90-1267 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

_____________________________________

XXXXX,

Petitioner, : ORDER OF APPROVAL

:

v. :

PROPERTY TAX DIVISION OF THE : Appeal No. 90-1267

UTAH STATE TAX COMMISSION, :

: Tax Type: Centrally 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 date XXXXX.

Petitioner and Respondent have agreed that an adjustment of the valuation is necessary. The original XXXXX Utah valuation computed by the Property Tax Division for XXXXX was $$$$$, based on a system value of $$$$$, a Utah allocated percentage of XXXXX, and a Federally mandated relief percentage of XXXXX. The Property Tax Division has prepared a revised appraisal that relies on a cost indicator in the amount of $$$$$, and an income indicator in the amount of $$$$$. The Property Tax Division and the Petitioner agree that the correlated market value of the system should be $$$$$. The Utah allocated percentage of mobile flight equipment has been changed to XXXXX. The Federally mandated relief percentage remains at XXXXX. Therefore, the value is adjusted from $$$$$ to $$$$$ for the XXXXX tax year.

Each affected county had standing to object to the assessment of the subject property pursuant to Utah Code Ann. 592-1007. On or about XXXXX, XXXXX, XXXXX and XXXXX Counties filed an objection. On or about XXXXX, XXXXX, XXXXX and XXXXX Counties withdrew their objection.

ORDER

Based on the foregoing, the Utah State Tax Commission hereby finds the market value of the subject property for the tax year XXXXX is $$$$$.

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

DATED this 30th day of December, 1993.

BY ORDER OF THE UTAH STATE TAX COMMISSION.

W. Val Oveson