BEFORE THE UTAH STATE TAX
COMMISSION
______________________________
XXXXX, )
:
Petitioner, ) ORDER OF APPROVAL
:
v. )
:
PROPERTY TAX
DIVISION OF THE ) Appeal No. 92-1619
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 values for XXXXX XXXXX have been changed
due to: 1) The correction of expense errors that were made in the original
discounted cash flow analysis; and 2)
Decline curve adjustments based on additional reserve and discounted cash flow
information that was provided by the operator.
Therefore, the value is adjusted from $$$$$ to $$$$$ for the XXXXX tax
year.
Each
affected county had standing to object to the assessment of the subject
property pursuant to Utah Code Ann. §59-2-1007, but elected not to do so.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the subject property for the tax year XXXXX is $$$$$.
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 21st day of May, 1993.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
ABSENT
R. H. Hansen Roger
O. Tew
Chairman Commissioner
Joe B.
Pacheco S.
Blaine Willes
Commissioner Commissioner