BEFORE THE UTAH STATE TAX COMMISSION
Petitioner, ) ORDER OF APPROVAL
PROPERTY TAX DIVISION OF THE ) Appeal No. 92-1441
UTAH STATE TAX COMMISSION, :
) Centrally Assessed
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 XXXXX XXXXX is $101,558, based on an average value per car of $30,422 and 3.3361 cars allocated to Utah. The allocated cars were calculated on a miles to miles basis only. The Property Tax Division and the taxpayer agree that a speed factor should be considered when determining the cars allocated to Utah. This would account for the time railcars spend standing in one place for loading, unloading, in storage, or out of service for repairs. The average value per car remains the same. The revised cars allocated to Utah should be 2.0433, and the revised Utah allocated value should be $62,161. After making the adjustment, the XXXXX Utah valuation is $62,161. Therefore, the value is adjusted from $101,558 to $62,161 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.
Based on the foregoing, the Utah State Tax Commission hereby finds the market value of the subject property for the tax year XXXXX is $62,161.
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 5th day of October, 1992.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
R. H. Hansen Roger O. Tew
Joe B. Pacheco S. Blaine Willes