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