92-1306 - Centrally Assessed

 

BEFORE THE UTAH STATE TAX COMMISSION

_______________________________

XXXXX

XXXXX

:

Petitioner, : ORDER OF APPROVAL

:

v. :

:

PROPERTY TAX DIVISION OF THE : Appeal No. 92-1306

UTAH STATE TAX COMMISSION, :

: Tax Type: Cent. Assessed

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 an adjustment of the valuation is necessary. The original XXXXX Utah valuation computed by the Property Tax Division for the land and improvements of XXXXX is $$$$$, based on a fair market valuation of $$$$$ and a Federally mandated relief percentage of 3.3%. The Property Tax Division has revised the assessment and has relied on a full narrative appraisal report provided by the taxpayer. The Property Tax Division and the taxpayer agree that the revised fair market value of the taxpayer's land and improvements is $$$$$. Following the Federally mandated relief percentage of 3.3%, the Utah assessed value of the land and improvements is $$$$$. The value of personal property of the taxpayer remains at $$$$$. Therefore, the value of the land and improvements is adjusted from $$$$$ to $$$$$ for the XXXXX tax year. The total value of the subject property including personal property is adjusted from $$$$$ to $$$$$ for the XXXXX tax year.

XXXXX 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 land and improvements of the subject property for the tax year XXXXX is $$$$$, the total value of the subject property is $$$$$.

The Property Tax Division is hereby ordered to adjust its records in accordance with this order of approval. The XXXXX County Auditor is also authorized to adjust its records in accordance with the revised notice of assessment.

DATED this 13th day of October, 1992.

BY ORDER OF THE UTAH STATE TAX COMMISSION.

ABSENT

R. H. Hansen Roger O. Tew

Chairman Commissioner