BEFORE THE UTAH STATE TAX
COMMISSION
_____________________________________
XXXXX, )
Petitioner, : ORDER OF APPROVAL
v. :
PROPERTY TAX DIVISION
OF THE : Appeal No. 91-1029
UTAH STATE TAX COMMISSION, :
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 $$$$$ based on a system value of
$$$$$, a Utah allocated percentage of mobile flight equipment of 100%, and a
federally mandated relief percentage of 10%.
The Property Tax Division has prepared a new appraisal and relied upon a
cost approach in the amount of $$$$$ an income indicator of value in the amount
of $$$$$. The Division and the taxpayer
agree that the correlated market value of the unit should be $$$$$. The Utah allocated percentage of mobile
flight equipment has been changed to %%%%%.
This results in a revised allocated Utah value of $$$$$ after applying
federally mandated relief of %%%%.
Therefore, the value is adjusted from $$$$$ to $$$$$ for the XXXXX tax
year.
Each
affected county had standing to object to the assessment of the subject
property pursuant to Utah Code Ann. §59-2-1007, but elected not to do so.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the subject property for the tax year XXXXX is $$$$$.
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 10 day of February, 1992.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
R. H. Hansen Roger
O. Tew
Chairman Commissioner