Terms Used In Utah Code > Title 59 > Chapter 2 > Part 2 - Assessment of Property

• Air charter service: means an air carrier operation that requires the customer to hire an entire aircraft rather than book passage in whatever capacity is available on a scheduled trip. See Utah Code 59-2-102
• Air contract service: means an air carrier operation available only to customers that engage the services of the carrier through a contractual agreement and excess capacity on any trip and is not available to the public at large. See Utah Code 59-2-102
• Aircraft: means the same as that term is defined in Section 72-10-102. See Utah Code 59-2-102
• airline: means an air carrier that:

  (i)	operates: (A)  on an interstate route; and (B)  on a scheduled basis; and

  (ii)

  offers to fly one or more passengers or cargo on the basis of available capacity on a regularly scheduled route. See Utah Code 59-2-102 Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant. Contract: A legal written agreement that becomes binding when signed. Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. County legislative body: means :Utah Code 68-3-12.5 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Escaped property: means any property, whether personal, land, or any improvements to the property, that is subject to taxation and is: (i)  inadvertently omitted from the tax rolls, assigned to the incorrect parcel, or assessed to the wrong taxpayer by the assessing authority; (ii)  undervalued or omitted from the tax rolls because of the failure of the taxpayer to comply with the reporting requirements of this chapter; or (iii)  undervalued because of errors made by the assessing authority based upon incomplete or erroneous information furnished by the taxpayer. See Utah Code 59-2-102 Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller. Fair market value: means the amount at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts. See Utah Code 59-2-102 Land: includes :Utah Code 68-3-12.5 Lien: A claim against real or personal property in satisfaction of a debt. Mine: means a natural deposit of either metalliferous or nonmetalliferous valuable mineral. See Utah Code 59-2-102 Mining: means the process of producing, extracting, leaching, evaporating, or otherwise removing a mineral from a mine. See Utah Code 59-2-102 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Person: means :Utah Code 68-3-12.5 Personal property: All property that is not real property. Personal property: includes : (a)  every class of property as defined in Subsection (29) that is the subject of ownership and is not real estate or an improvement; (b)  any pipe laid in or affixed to land whether or not the ownership of the pipe is separate from the ownership of the underlying land, even if the pipe meets the definition of an improvement; (c)  bridges and ferries; (d)  livestock; and (e)  outdoor advertising structures as defined in Section 72-7-502. See Utah Code 59-2-102 Property: means property that is subject to assessment and taxation according to its value. See Utah Code 59-2-102 Public utility: means : (i)  the operating property of a railroad, gas corporation, oil or gas transportation or pipeline company, coal slurry pipeline company, electrical corporation, sewerage corporation, or heat corporation where the company performs the service for, or delivers the commodity to, the public generally or companies serving the public generally, or in the case of a gas corporation or an electrical corporation, where the gas or electricity is sold or furnished to any member or consumers within the state for domestic, commercial, or industrial use; and (ii)  the operating property of any entity or person defined under Section 54-2-1 except water corporations. See Utah Code 59-2-102 Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 Swear: includes "affirm. See Utah Code 68-3-12.5 Telecommunications service provider: means the same as that term is defined in Section 59-12-102. See Utah Code 59-2-102