BEFORE THE UTAH STATE TAX
COMMISSION
_______________________________
XXXXX, )
Petitioner, : ORDER OF APPROVAL
)
v. :
PROPERTY TAX
DIVISION OF THE ) Appeal No. 92-1550
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 an adjustment of the valuation is necessary
based on the following: 1) The XXXXX
well has been removed from the record as it was sold to XXXXX XXXXX in XXXXX of
XXXXX; 2) The XXXXX well was changed
from a pumping to a flowing well and the flat well rate reduced; and 3) The decline curve for the XXXXX XXXXX
well was revised based on additional quantitative information provided by the
Property Tax Division. Therefore, the
value is adjusted from $123,100 to $64,500 for the XXXXX tax year.
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 $64,500.
The
Property Tax Division is hereby ordered to adjust its records in accordance
with this order of approval. The XXXXX
County Auditor is also authorized to adjust its records in accordance with the
revised notice of assessment.
DATED
this 27th day of July, 1993.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
W. Val
Oveson Roger
O. Tew
Chairman Commissioner
Joe B.
Pacheco Alice
Shearer
Commissioner Commissioner