Consent 8.
Regular Board of Supervisors Meeting
County Attorney
- Meeting Date:
- 01/28/2014
- Title:
- Approve Proposed Settlement of a Tax Appeal
- Submitted By:
- Annette Weems, County Attorney
- Department:
- County Attorney
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature NOT Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
0
NAME
of PRESENTER:
of PRESENTER:
N/A
TITLE
of PRESENTER:
of PRESENTER:
N/A
Docket Number (If applicable):
Mandated Function?:
Not Mandated
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Information
Agenda Item Text:
Approve the proposed settlement of the Tax Appeal in San Pedro Partners II, L.L.C. v. Cochise County, TX2013-000674 (Assessor parcel No. 123-47-203D), now pending in Arizona Tax Court, a division of the Superior Court of and for Maricopa County.
Background:
Taxpayer filed a civil action in Arizona Tax Court asking for a reduction in assessed value from $2,536,568.00 to no more than $325,000 for Tax Years 2013 and 2014. After inspecting the property, reviewing the taxpayer’s documentation and other market factors/comparables, the Assessor agrees that the property assessment for Tax Years 2013 and 2014 should be lowered. The Assessor recommended a settlement offer to Plaintiff that lowers the full cash value and limited property value as follows:
2013 Total Full Cash Value = $508,275.00
2013 Total Limited Property Value = $494,309.00
2014 Total Full Cash Value = $508,275.00
2014 Total Limited Property Value = $508,275.00
The taxpayer has accepted the settlement offer.
Fiscal Impact & Funding Sources: Not applicable, no funding sources are required. Fiscal impact will be a reduction in the tax base.
2013 Total Full Cash Value = $508,275.00
2013 Total Limited Property Value = $494,309.00
2014 Total Full Cash Value = $508,275.00
2014 Total Limited Property Value = $508,275.00
The taxpayer has accepted the settlement offer.
Fiscal Impact & Funding Sources: Not applicable, no funding sources are required. Fiscal impact will be a reduction in the tax base.
Department's Next Steps (if approved):
Upon approval by the Board, Counsel for the County will sign a stipulation for entry of Judgment that has already been signed by the taxpayer, and will submit a form of Judgment to the Arizona Tax Court disposing of this matter pursuant to the settlement terms.
Impact of NOT Approving/Alternatives:
The County would be subject to continued litigation and risks an Arizona Tax Court ruling in favor of the taxpayer that would significantly reduce the assessed value of the subject property and subject the County to paying Plaintiff’s fees and expenses.
To BOS Staff: Document Disposition/Follow-Up:
Advise County Attorney's Office - Civil Division upon Board's approval.
Attachments
No file(s) attached.