Consent 4.
Regular Board of Supervisors Meeting
County Attorney
- Meeting Date:
- 09/11/2012
- 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 Wal-Mart Stores Inc. v. Cochise County, TX2011-000383, 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 for all three of its stores in Cochise County. The combined assessed valuation reduction requested was from $40,293,710 down to $19,440,000 for Tax Year 2012. After inspecting the properties, reviewing the taxpayer’s documentation and other market factors/comparables, the Assessor agrees that the property assessment for Tax Year 2012 should be lowered, and so recommended a settlement offer that lowered the combined full cash value to $32,577,555. The taxpayer accepted the settlement offer.
Fiscal Impact & Funding Sources: Not applicable, no funding sources are required. Fiscal impact will be a minor reduction in the tax base. Jurisdictions were notified of the proposed reduction shortly before the deadline for setting their tax rates, so they could make adjustments.
Fiscal Impact & Funding Sources: Not applicable, no funding sources are required. Fiscal impact will be a minor reduction in the tax base. Jurisdictions were notified of the proposed reduction shortly before the deadline for setting their tax rates, so they could make adjustments.
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:
Additional litigation for the County, with the risk that the Arizona Tax Court would rule in the taxpayer’s favor, reducing the assessed value of the subject property and subjecting the County to paying the Plaintiff’s fees and expenses which could easily exceed $50,000 in this contested case.
To BOS Staff: Document Disposition/Follow-Up:
Advise County Attorney's Office - Civil Division upon Board's approval
Attachments
No file(s) attached.