BEFORE THE UTAH STATE TAX
COMMISSION
_______________________________
XXXXX
Petitioner, : ORDER OF APPROVAL
:
v. :
:
PROPERTY TAX
DIVISION OF THE : Appeal No. 92-1392
UTAH STATE TAX COMMISSION, :
: 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 date XXXXX.
Petitioner
and Respondent have agreed that an adjustment of the valuation is
necessary. The original XXXXX Utah
valuation for XXXXX is $$$$$, based on a system value of $$$$$, a market to
cost ratio of XXXXX, a Utah allocated percentage of XXXXX and a Federally
mandated relief percentage of 3.3%. The
Property Tax Division has prepared a revised appraisal that corrects a
reporting error by the taxpayer in the amount of Utah originating and
terminating tons. Also slight
adjustments were made to the value of operating leased aircraft in the income
and stock & debt indicators. The Property Tax Division and the taxpayer
agree that the revised system value should be $$$$$, the market to cost ratio
should be XXXXX, the Utah allocation percentage should be XXXXX%, and the
federally mandated relief percentage should remain the same. The revised Utah value should be $$$$$. Therefore, the value is adjusted from $$$$$
to $$$$$ for the Utah portion for the XXXXX tax year.
Each
affected county had standing to object to the assessment of the subject
property pursuant to Utah Code Ann. §59-2-1007, but elected not to do so.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the Utah portion of the subject property for the tax year XXXXX is $$$$$.
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 7th day of October, 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