BEFORE THE UTAH STATE TAX
COMMISSION
____________________________
XXXXX
Petitioner, : ORDER OF APPROVAL
:
v. :
:
PROPERTY TAX DIVISION
OF THE : Appeal No. 92-1606
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. The original analysis was performed with
inaccurate salvage values used for the wells.
Those figures have been corrected.
Also, the decline curve for XXXXX XXXXX was changed as the result of
additional information provided by the operator. After making the adjustment, 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 its records in accordance with the revised
notice of assessment.
DATED
this 20th day of November, 1992.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
R. H. Hansen Roger
O. Tew
Chairman Commissioner