BEFORE THE UTAH STATE TAX
COMMISSION
_____________________________________
XXXXX
Petitioner, : ORDER OF APPROVAL
v. :
:
PROPERTY TAX
DIVISION OF THE : Appeal No. 92-1636
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
based on revised and more accurate expense information which was provided for these
wells, and the decline curve for one well was modified based on additional
information provided by the operator.
After making the adjustments, the value for the XXXXX tax year is $$$$$.
Each
affected county had standing to object to the assessment of the subject
property pursuant to Utah Code Ann. 592-1007, but elected not to do so.
ORDER
Based
on the foregoing, the Utah State Tax Commission hereby finds the market value
of the subject property for the tax year XXXXX is $$$$$.
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 20 day of January, 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