| (1) |
Property owned by the taxpayer is valued at its original cost. |
Terms Used In Utah Code 59-7-313
| (2) |
Property rented by the taxpayer is valued at eight times the net annual rental rate. |
| (3) |
Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from subrentals. |
| (4) |
Property owned or rented by an airline is valued as provided in this section, subject to the calculation required by Subsection 59-7-312(2). |
Amended by Chapter 283, 2008 General Session
