Utah State Tax Commission
The Commercial Appraisal Department is responsible for determining market value on:
Leased/multi-location business personal property is requested to be reported within an Excel file emailed to firstname.lastname@example.org. The signature page should be emailed also; it does not need to be mailed separately.
The Commercial Appraisal Department is responsible for determining market value on real properties used for commercial purposes. The department also determines market value on vacant land that is zoned for commercial/industrial usage. Examples of commercial property are retail stores, office buildings, shopping centers, warehouses and manufacturing facilities. Apartment complexes are also valued by the commercial department.
Commercial property value is estimated by using three approaches to value: cost, market, and income. Sometimes one approach is more appropriate to use than the others, and insufficient data in some of the approaches to value will preclude staff from using them.