90-1273 to 90-1274 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

_____________________________________

XXXXX,

Petitioner, : ORDER OF APPROVAL

v. :

:

PROPERTY TAX DIVISION OF THE : Appeal Nos. 90-1273 &

UTAH STATE TAX COMMISSION, : 90-1274

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 adjustment to the valuation is necessary. The Respondent has proposed and the Petitioner has agreed that the proper unit to value for purposes of the Utah property tax assessment is the Utah operations only of the Petitioner. These operations are also known as XXXXX and XXXXX. The Respondent has prepared a new appraisal of this revised unit. In this new appraisal the Division has relied upon the cost and market approaches to value. The Respondent and Petitioner agree that the correlated market value of the unit should be $$$$$ for the XXXXX tax year. Therefore, the value is adjusted from $$$$$ to $$$$$ for the XXXXX tax year.

Each affected county had standing to object to the assessment of the subject property pursuant to Utah Code Ann. 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 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 24th day of October, 1991.

BY ORDER OF THE UTAH STATE TAX COMMISSION.

R. H. Hansen Roger O. Tew

Chairman Commissioner

Joe B. Pacheco S. Blaine Willes

Commissioner Commissioner