University of Utah v. Salt Lake County

CROCKETT, Justice:

Plaintiff, University of Utah, sought a ruling that certain equipment it had leased from Picker X-Ray Company is exempt from being taxed by defendant, Salt Lake County. Its argument is that because it obtained this property under a five-year lease, with an option to purchase, coupled with the facts that it has the possession and use of the property, and that it has agreed to pay the taxes thereon, such leased property should be considered property of the University. From a summary judgment rejecting plaintiff’s contention it appeals.

The lease provided that the equipment…