91-1170 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

_____________________________________

XXXXX, )

Petitioner, : ORDER OF APPROVAL

v. :

PROPERTY TAX DIVISION OF THE : Appeal No. 91-1170

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 of the valuation is necessary. The original XXXXX Utah valuation computed by the Property Tax Division for XXXXX is $$$$$, based on a system value of $$$$$ and XXXXX cars allocated to Utah, and a calculated average value per car of $$$$$. The Property Tax Division and the taxpayer agree that costs of adjustments made to cars that do not increase the economic life or value of the cars should not be applied to the Division's standard personal property tables but rather should be adjusted for normal depreciation only. Following this adjustment, the Division and the taxpayer agree that the market value of the system should be $$$$$. The Utah allocated cars remains at XXXXX. The average value per car is reduced to $$$$$. This results in a revised allocated Utah value of $$$$$.

Each affected county had standing to object to the assessment of the subject property pursuant to Utah Code Ann. 592-1007, but elected not to do so.

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 10 day of December, 1991.

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