Salt Lake City Southern Railroad v. Utah State Tax Commission

RUSSON, Justice:

¶ 1 Petitioner Salt Lake City Southern Railroad Company seeks review of a ruling of the Utah State Tax Commission upholding the 1994 valuation of petitioner’s taxable property. The Property Tax Division of the Tax Commission had determined that, as of January 1, 1994, the fair market value of petitioner’s taxable property was $1 million. We affirm.

BACKGROUND

¶ 2 Salt Lake City Southern Railroad Company (the “Company”) is in the business of “spotting” railcars, which involves shuttling railcars to and from local customers of Union Pacific Railroad (“UPRR”) for loading and…