Discussion, direction and possible action regarding the proposed settlement of the Large Tax Appeal Northeast Hwy 90-92 LP, et al. v. Cochise County, TX2021-000568, now pending in Arizona Tax Court, a division of the Superior Court of and for Maricopa County.

Pursuant to A.R.S. § 38-431.03 (A)(3) and (4), the Board may go into executive session for legal advice with the attorney of the public body and to consider its position and instruct attorneys regarding the public body’s position in pending litigation.
 

Taxpayer filed a civil action in Arizona Tax Court, seeking a reduction in assessed value for parcel number 107-16-042-00 for tax year 2022.  After inspecting the property, reviewing the taxpayer’s documentation and other market factors/comparables, exchanging disclosure, conducting depositions, and completing discovery, the Assessor agrees that the parcel’s full cash value for tax year 2022 should be lowered. The Assessor’s recommended settlement offer is as follows:
 
For tax year 2022, a reduction in full cash value from $1,109,500 to $860,000. 
 
The assessment ratio shall remain at 18.0%.
 
The legal class shall remain at 1.
 
Cochise County shall pay Plaintiffs $15,000 for attorney’s fees, and $4,680 in expert witness fees and costs.
 
The taxpayer has accepted the settlement offer.

Upon approval by the Board, the parties will file the stipulated judgment with the Arizona Tax Court disposing of this matter, pursuant to the settlement terms.

Additional litigation with outside counsel 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 a larger sum of Plaintiffs’ fees and costs.

N/A