Consent 4.
Regular Board of Supervisors Meeting
County Attorney
- Meeting Date:
- 06/27/2017
- 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 Cochise Pacific Associates, AZ, LP, TX2015-000899, 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 410-24-047A for tax year 2016. After inspecting the property, reviewing the taxpayer’s documentation and other market factors/comparables, the Assessor agrees that the parcel’s values for Tax Year 2016 should be reduced. The Assessor recommended a settlement offer as follows:
A reduction in the full cash value and limited property value from $4,949,249.00 to $975,000.00.
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.
A reduction in the full cash value and limited property value from $4,949,249.00 to $975,000.00.
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 impact of not approving the settlement is additional litigation for the County and related costs. The County also risks a judgment in favor of the taxpayer that would reduce the assessed value of the subject property even further than the settlement amount and an order requiring the County to pay the Plaintiff’s attorney’s 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.