BEFORE THE UTAH STATE TAX
COMMISSION
________________________________
XXXXX
Petitioner, : ORDER OF APPROVAL
:
v. :
:
PROPERTY TAX
DIVISION OF THE : Appeal No. 92-1322
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 adjustment of the valuation is necessary. Based on a system value of $$$$$, and a Utah
allocated percentage of XXXXX. The
Property Tax Division and the taxpayer agree that Utah property owned by the taxpayer is disproportionately
newer than other portions of the
taxpayer's system. This has the
tendency to import value to Utah when historical cost is the primary basis for
interstate allocation. The Property Tax
Division has prepared a revised appraisal that incorporates a combination for
reproduction cost and historical cost in the interstate allocation formula. The
revised Utah allocation percentage is XXXXX.
The system value remains at $$$$$.
Therefore, the revised Utah valuation is adjusted from $$$$$ to $$$$$
for the XXXXX tax year.
Each
affected county had standing to object to the assessment of the subject
property pursuant to Utah Code Ann.
§592-1007, but elected not to do so.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the subject property for the tax year XXXXX is $$$$$.
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 29th day of September, 1992.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
R. H. Hansen Roger
O. Tew
Chairman Commissioner
Joe B.
Pacheco S.
Blaine Willes
Commissioner Commissioner