Utah Admin. Code R652-70-600 - Lease Rates
1. Procedures for
determining fair market value for surface leases are found in
R652-30-400. Where these general
procedures can not readily be applied, fair market value for sovereign lands
may also be determined by multiplying the market value, as determined by the
county assessor or, if none, then as determined by the State Tax Commission, of
the adjacent upland by 30%.
2.
Procedures for determining lease rates are described in R652-30 Special Use
Leases. Lease rates for sovereign lands may also be determined by multiplying
the fair market value, as determined by
R652-70-600(1),
by the current division - determined interest rate and then prorating that
amount by a season of use adjustment as determined by the division.
3. Regardless of lease rate determined by
R652-70-600(2),
no Special Use Lease shall be issued for an amount less than the minimum lease
rate determined by the division.
Notes
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