Consent 2.
Regular Board of Supervisors Meeting
County Attorney
- Meeting Date:
- 11/28/2017
- Title:
- Approve proposed settlement of a tax appeal
- Submitted By:
- Sue Blanchard, 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 Liberty Sierra Vista LLC v. Cochise County, TX2016-000403, now pending in Arizona Tax Court, a division of the Superior Court of and for Maricopa County.
Background:
Taxpayers filed a civil action in Arizona Tax Court, seeking a reduction in assessed value for parcel number 106-70-058F for tax years 2016 and 2017. After inspecting the property, reviewing the taxpayers’ documentation and other market factors/comparables, the Assessor agrees that the parcel’s classification and value for tax years 2016 and 2017 should be changed and/or lowered. The Assessor recommended a settlement offer as follows:
For tax years 2016 and 2017, a reduction in full cash value and limited property value from $2,600,000 to $500,000.
The assessment ratio should remain unchanged at 18% and the legal class should remain unchanged at 1.12.
The above values and classifications would apply to tax year 2018 per A.R.S. 42-16002(B).
Each party would bear their own attorneys’ fees and costs.
The taxpayers have 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.
For tax years 2016 and 2017, a reduction in full cash value and limited property value from $2,600,000 to $500,000.
The assessment ratio should remain unchanged at 18% and the legal class should remain unchanged at 1.12.
The above values and classifications would apply to tax year 2018 per A.R.S. 42-16002(B).
Each party would bear their own attorneys’ fees and costs.
The taxpayers have 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, the parties will sign a stipulation for entry of Judgment 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:
Additional litigation for the County with the risk that the Court may (1) rule in the taxpayers’ favor; (2) order a larger reduction in the assessed value of the subject property; and (3) order the County to pay the Plaintiffs’ fees and costs.
To BOS Staff: Document Disposition/Follow-Up:
Advise County Attorney's Office - Civil Division upon Board's approval.
Attachments
No file(s) attached.