BEFORE THE UTAH STATE TAX
COMMISSION
________________________________
XXXXX, )
:
Petitioner, ) ORDER OF APPROVAL
:
v. )
:
PROPERTY TAX
DIVISION OF THE ) Appeal No. 92-1441
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 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.
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 $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
Chairman Commissioner
Joe B. Pacheco S.
Blaine Willes
Commissioner Commissioner