Approve the proposed settlement of the Tax Appeal in Flying H Ranch, LLC v. Cochise County, ST2013-000546, now pending in Arizona Tax Court, a division of the Superior Court of and for Maricopa County.

Taxpayer timely filed a civil action in Arizona Tax Court asking for a significant reduction in value for nine parcels in tax year 2013. The Assessor valued these parcels at $1,674,572.00. After inspecting the property, reviewing the taxpayer’s documentation and other market factors/comparables, the Assessor agrees that the property assessment for tax year 2013 should be lowered. The Assessor recommended a settlement offer to Plaintiff that lowers the full cash value and limited property value of the nine parcels as follows: 2013 Full Cash Value = $986,075.00 2013 Limited Property Value = $974,345.00 2014 Full Cash Value = $986,075.00 2014 Limited Property Value = Calculated pursuant to Arizona Revised Statutes. 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.

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.

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.

Advise County Attorney's Office - Civil Division upon Board's approval.