BEFORE THE UTAH STATE TAX
COMMISSION
_____________________________________
XXXXX
dba XXXXX :
Petitioner, : ORDER OF APPROVAL
:
v. :
:
PROPERTY TAX
DIVISION OF THE : Appeal Nos. 92-1360 & 93-1107
UTAH STATE TAX COMMISSION, :
: Tax Type:
Centrally 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 dates XXXXX, and
XXXXX. Petitioner and Respondent have agreed that an adjustment of the
valuation from $$$$$ to $$$$$ for the XXXXX tax year is necessary. They have also agreed that an adjustment of
valuation from $$$$$ to $$$$$ for the XXXXX tax year is necessary. The capitalization rates employed in these
assessments were adjusted for a "XXXXX influence" adjustment and
additional risk borne by Petitioner as compared to that borne by the comparable
companies used to determine the capitalization rate used in the original
assessment.
XXXXX County had
standing to object to the assessment of the subject property pursuant to Utah
Code Ann. 59-2-1007, but elected not to do so.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the subject property for the tax year XXXXX is $$$$$, and the market value of
the subject property for the tax year XXXXX is $$$$$. The Property Tax Division
is hereby ordered to adjust its records in accordance with this order of
approval. The XXXXX County Auditor is
authorized to adjust its records in accordance with the revised notice of
assessment
DATED
this 30 day of September, 1994.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
W. Val
Oveson Roger
O. Tew
Chairman Commissioner
Joe B.
Pacheco Alice
Shearer
Commissioner Commissioner