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Kennecott's taxes

Published May 4, 2013 1:01 am
This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

As an appraiser and appraisal manager for more than 32 years with Salt Lake County, now retired, I am well versed in appraisal principles, procedures and laws pertaining for real property for tax purposes in Utah.

One of those laws says that all property in the state shall be appraised at fair market value as of Jan. 1. If a house burns down on Jan. 2, the value for that year would be taxed at full of market value for the house.

If for some reason a hotel's occupancy dropped drastically during the year, causing a loss of income, if occupancy stabilized by Jan. 1, it is valued and taxed at 100 percent of that market value.

According to "Big mine slide could boost 2014 property taxes in Salt Lake County" (Tribune, April 28), the recent slide at Kennecott's mine may reduce production this year by 50 percent. If the mine reaches full production or close to it by Jan. 1, 2014, it should be taxed at full market value even though there was a severe income loss during the year, thus avoiding a shift in taxes.

Alan Andrus

Taylorsville

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