BEFORE THE UTAH STATE TAX COMMISSION
Petitioner, : ORDER OF APPROVAL
PROPERTY TAX DIVISION OF THE : Appeal No. 92-1626
UTAH STATE TAX COMMISSION, :
: Tax Type: Centrally Assessed
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 from $$$$$ to $$$$$ for the XXXXX tax year is necessary. The original valuation of this assessment was $$$$$. After a review of information provided on appeal and a field inspection of the site, the following information was utilized in the revised valuation:
1. The gas plant, both equipment and improvements were found to be in total disarray. The plant was not operating and would not be operated in the future. Vandalism, weather and deterioration had taken its toll on the plant. Therefore, the plant (equipment and improvements) were given an 80 obsolescence.
2. The future production of the producing well XXXXX was altered slightly in order to reflect a more realistic forecast. Each affected county had standing to object to the assessment of the subject property pursuant to Utah Code Ann. §59-2-1007, but elected not to do so.
Based on the foregoing, the Utah State Tax Commission hereby finds the market value of the subject property for the tax year XXXXX is $$$$$. The Property Tax Division is hereby ordered to adjust its records in accordance with this order of approval. The County Auditors are authorized to adjust their records in accordance with the revised notice of assessment.
DATED this 27 day of March, 1995.
BY ORDER OF THE UTAH STATE TAX COMMISSION.
W. Val Oveson Roger O. Tew
Joe B. Pacheco Alice Shearer