BEFORE THE UTAH STATE TAX COMMISSION
Petitioner, : ORDER OF APPROVAL
PROPERTY TAX DIVISION OF THE : Appeal No. 91-0963
UTAH STATE TAX COMMISSION, :
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 and stipulated that the original XXXXX Utah Valuation computed by the Property Tax Division for XXXXX is $$$$$, based on a system value of $$$$$ and a Utah allocated percentage of %%%%%. The Division has proposed an adjustment to the income and cost approach. The Division and the Taxpayer acknowledge that a one-time adjustment to operating income due to an asset acquisition adjustment should not be used in predicting future income. The cost approach has also been adjusted to reflect a materials and supplies and plant held for future use adjustment. The Division and the Taxpayer agree that the revised system value should be $$$$$. The Utah allocated percentage is changed to %%%%% resulting in a revised Utah value of $$$$$.
Each affected county had standing to object to the assessment of the subject property pursuant to Utah Code Ann. §59-2-1007, but elected not to do so.
Based on the foregoing, the Utah State Tax Commission hereby finds the market value of the subject property for the tax year XXXXX is $$$$$.
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 18 day of September, 1991.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
R. H. Hansen Roger O. Tew
Joe B. Pacheco S. Blaine Willes