BEFORE THE UTAH STATE TAX
COMMISSION
___________________________________
XXXXX
:
:
Petitioner, : ORDER OF APPROVAL
:
v. :
:
PROPERTY TAX
DIVISION OF THE : Appeal No. 92-1568
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. There were no gas sales from
the XXXXX; gas sales revenues that were originally included have been deleted
from the discounted cash flow analysis.
An error in expense tracking in the original assessment was discovered
and corrected; this increased the value of the unit. The decline curve was also
revised slightly to more accurately reflect historical data. Therefore, the value for the XXXXX tax year
is $$$$$.
XXXXX
County had standing to object to the assessment of the subject property
pursuant to Utah Code Ann. §59-2-1007,
but elected not to do so.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the subject property for the tax year XXXXX is $$$$$.
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 their records in accordance with
the revised notice of assessment.
DATED
this 25th day of March, 1993.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
R. H. Hansen Roger
O. Tew
Chairman Commissioner
Joe B.
Pacheco S.
Blaine Willes
Commissioner Commissioner