90-2710 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

____________________________________

XXXXX,                                                                                 )

            Petitioner,                                                         :           ORDER

v.                                                                                 :

PROPERTY TAX DIVISION OF THE                       :           Appeal No. 90-2710

            UTAH STATE TAX COMMISSION,            :

            Respondent.                                                     :

            _____________________________________

STATEMENT OF CASE

            The above captioned matter involves an appeal to the Utah State Tax Commission from the Factoring Order issued to XXXXX on XXXXX.

            On XXXXX, representatives of the Petitioner and the Respondent met to review questions regarding the data and issues of statistical methodology and application of the factor order.  Based upon the facts presented, the parties entered into an agreement and signed a stipulation on XXXXX.  A copy of the stipulation is attached.

ORDER

            Based upon the stipulation of the parties, the Tax Commission hereby approves and adopts the terms of the stipulation as entered into by the parties on XXXXX, and enters its Order pursuant to the terms contained therein.

            DATED this 19 day of February, 1991.

BY ORDER OF THE UTAH STATE TAX COMMISSION.

R. H. Hansen                                                                Roger O. Tew

Chairman                                                                      Commissioner

Joe B. Pacheco                                                            G. Blaine Davis

Commissioner                                                               Commissioner

BEFORE THE UTAH STATE TAX COMMISSION

____________________________________

XXXXX                                                                                  )           STIPULATION

            Petitioner,                                                         :

v.                                                                                 :           Appeal No. 90-2710

PROPERTY TAX DIVISION                                     :

            UTAH STATE TAX COMMISSION             :

            Respondent                                                      :

            _____________________________________

            Statement of Facts

            Pursuant to the provisions of Utah Code Annotated59-2-704(2), 1953, the Utah State Tax Commission issued a factoring order to XXXXX by the fourth Tuesday of XXXXX.  The order, based upon the XXXXX Assessment/Sales Ratio Study, set forth a ratio of XXXXX and a factor of XXXXX on the vacant land category.

            On XXXXX, XXXXX filed an appeal of the XXXXX factor order with the Utah State Tax Commission.

            On XXXXX, XXXXX met with the Property Tax Division to review questions of error and/or omission in the data and issues regarding statistical methodology and application of the factor order.

            Based upon the facts presented, the Property Tax Division and XXXXX stipulate:

            1.  An analysis of the vacant land sales used to compute the assessment level revealed that there is one specific area of the county which is greatly undervalued.  By isolating the sales in XXXXX and eliminating them from the sample, the overall assessment level for the county is in line with the Tax Commission's accepted standards.  It is stipulated that XXXXX will conduct a reappraisal of all vacant land parcels in the XXXXX, and also review and update the land values of all locally assessed property located in the XXXXX of XXXXX.  The reappraisal of the above areas will be completed and incorporated in the XXXXX tax roll.

            2.  The county land guide will be updated and presented to the Property Tax Division for review by XXXXX.  XXXXX will also establish a reappraisal plan.

            3.  Reappraise all vacant land parcels with a portion being completed by XXXXX and the remainder by XXXXX.

            4.  It is agreed that all reappraisal work and plans will follow the State Tax Commission Reappraisal Guidelines.

            5.  The parties agree that this stipulation may be modified based on results of future assessment/sales ratio studies conducted by the Property Tax Division, or that factor orders may be reinstituted if significant improvement in assessment level performance is not attained.

            6.  Based upon the parties' agreement in paragraphs (1) through (4) above, the parties jointly recommend that Appeal No. 90-2710 be dismissed by order of the Tax Commission incorporating the adjustments set forth.

            Dated the XXXXX day of XXXXX.

Petitioner

Representative

Property Tax Division

Utah State Tax Commission

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