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Improvements: Includes all buildings, structures, fixtures, fences, and other improvements erected upon or affixed to the land. (UCA §59-2-102 (19).)
Income Approach: A valuation approach that estimates that value of a property by determining the present value of the projected income stream. Direct capitalization is the most common approach used and it converts a single year's income estimate into an indication of value.
Informal Recommendation: Based on a preliminary review of the evidence submitted, the Salt Lake County Assessor or Tax Administration, may propose an informal recommendation of market value on the property appealed. If this is the action taken, the Auditor's shall provide the property owner a notice of this proposal. At this point the property owner may choose to accepted the proposed market value recommendation, or if dissatisfied, may request reconsideration of this proposed market value. If the latter is the choice of the property owner, the property owner must request in writing that they wish this informal recommendation reconsidered. This request must be received by the Auditor no later than 30 days after the property owner receives such notice, at which time the Auditor will schedule the appeal for a hearing. If the request for reconsideration is not received within this 30 day period, the recommendation becomes a final decision, and can only be appealed before the Utah State Tax Commission.
In-house Appeal: This is an appeal that is usually initiated by the Salt Lake County Assessor's Office. It is usually the result of the discovery of an erred assessment record after the Assessor has closed the current year's tax rolls. However, Tax Administration acting in behalf of the Board of Equalization, has the authority to initiate an appeal as well.
Intent to Dismiss: Notice from the Board of Equalization that an appeal has not met the minimum evidence requirements of the Board of Equalization. It sets forth the deficiencies and the documentation necessary to satisfy the requirements. If a response and correction of the deficiencies or required documentation is not submitted within 10 working days the appeal will be dismissed.
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