How are buildings and assets divided up?

The law says that “transfer of school district property and indebtedness to a newly created school district shall be handled in accordance with Sections 53A-2-120 and 53A-2-121.”  Utah Code 53A-2-118.1.  This is done by “determining the proportion that the total assessed valuation of the property within the new district bears to the total assessed valuation of the existing district.”  Utah Code Section 53A-2-121.  This is simple both conceptually and computationally.  The reality is much more difficult.  The practicalities of dividing up buildings, building related assets and, most particularly, dividing centrally held assets such as district office buildings, computer equipment, school busses, maintenance facilities and equipment, etc. may be protracted and contentious.