90-2711 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

____________________________________

XXXXX,

            Petitioner,                                                         :           ORDER

v.                                                                                 :

PROPERTY TAX DIVISION OF THE                       :           Appeal No. 90-2711

            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. 90-2711

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 on 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 class of property.

            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.

            An analysis of the vacant land sales used to compute the assessment level revealed some specific areas of the county which are undervalued.  By reviewing and updating the land values in the defined areas noted improvement can be made in the assessment level on the vacant land category.

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

            1.  XXXXX will reappraise all vacant land parcels in the XXXXX for the XXXXX tax roll.

            2.  XXXXX will review and update the values of recreational subdivisions in the XXXXX area for the XXXXX tax roll.

            3.  The county land guide will be updated and presented to the Property Tax Division for review by XXXXX.

            4.  XXXXX will reappraise all vacant land parcels, a portion of which will be completed by XXXXX with the remainder being completed by XXXXX.

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

            6.  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.

            7.  Based upon the parties' agreement in paragraphs (1) through (5) above, the parties jointly recommend that Appeal No. 90-2711 be dismissed by order of the Tax Commission incorporating the adjustments set forth.

            Dated the XXXXX day of XXXXX.

XXXXX

Petitioner

XXXXX

Representative,

Property Tax Division

Utah State Tax Commission