BEFORE THE UTAH STATE TAX
COMMISSION
_____________________________________
XXXXX, )
Petitioner, : ORDER OF APPROVAL
v. :
PROPERTY TAX
DIVISION OF THE : Appeal Nos. 91-0945
UTAH STATE TAX COMMISSION, : 91-1070
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 original XXXXX Utah valuation computed
by the Property Tax Division for XXXXX is $$$$$, based on a system value of
$$$$$, an enterprise ratio (market to cost ratio) of XXXXX, a Utah allocated
percentage of %%%%%, a total cost of Utah situs property of $$$$$, and a
Federally mandated relief percentage of %%%%%.
The Property Tax Division has prepared a revised appraisal that relies
on a cost indicator in the amount of $$$$$, an income indicator in the amount
of $$$$$, and a market indicator in the amount of $$$$$. The correlated system value is $$$$$. The enterprise ratio changed to XXXXX, the
Utah allocated percentage changed to %%%%%, the total cost of Utah situs
property changed to $$$$$, and the Federally mandated relief percentage remains
at %%%%%. The Property Tax Division and the taxpayer agree that the revised
XXXXX Utah value should be $$$$$.
Each
affected county had standing to object to the assessment of the subject
property pursuant to Utah Code Ann. §59-2-1007. On XXXXX, XXXXX County filed an objection. On XXXXX, XXXXX County withdrew their objection.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the Utah portion of the subject property for the tax year XXXXX is $$$$$.
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 2 day of September, 1992.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
ABSENT
R. H. Hansen Roger
O. Tew
Chairman Commissioner
Joe B.
Pacheco S.
Blaine Willes
Commissioner Commissioner