Mark Rothacher, vice president of commercial mortgage loans at First Security Bank of Utah, has been elected president of the Utah Chapter of the National Association of Industrial and Office Parks. He replaces Barry Nash, vice president of marketing for KUTV Properties Inc.

Other officers are Kent Buie, R.K. Buie Co., vice president and president-elect; Jim Light, Wallace Associates, treasurer; and Mike Roderick, Price Development, secretary.Chapter trustees will be Nash; George Ross, Freeport West; Lee Teerlink, Terra Industries; Rick Gates, Associated Title; Tom Ellison, the law firm of Van Cott, Bagley, Cornwall & McCarthy; and Jack Elder, Sitex.

Speaking at the meeting in Little America, Ellison said chapter members should be aware of the issue of property tax reformulation that the Legislature will discuss in January.

In July, Ellison said, the Utah Supreme Court ruled in favor of AMAX Magnesium and said the company was being treated unfairly in property tax assessments in relation to other properties. He said industrial and commercial real estate taxes probably will be increased because of the decision.

A lot of the property in Utah - like boats, automobiles and houses - is assessed by counties, but utilities and mining property are assessed by the state. In the past, counties have given certain properties a 20 percent deduction because of some intangibles, Ellison said.

AMAX challenged the 20 percent deductions as being unfair and won so the Legislature will consider several property tax proposals including what constitutes a fair assessment, what deductions will be allowed and should additional taxes be imposed on other segments of the economy.