Wednesday, August 26, 2015
Ind. Gov't. - More on: First it was the big boxes, now the CVS stores ...
BLOOMINGTON, Ind. (Aug. 25, 2015) — A tax court ruled in favor of a CVS store in Bloomington, the latest in a series of cases that has county assessors calling for action.
The ruling, by the Indiana Board of Tax Review, lowered the property assessment on the CVS store by more than $1 million a year. It means Monroe County could owe hundreds of thousands in back taxes and the store will now pay less in property taxes.
“It was sickening and it still is,” Monroe County Assessor Judy Sharp said.
Sharp has been speaking out against big chain stores that are using what’s been dubbed the “dark box” method to lower their taxes. Those stores argue that their property should be assessed similarly to vacant properties, significantly dropping their property taxes.
“It’s going to be a lot of money,” Sharp said.
That money could ultimately come from homeowners.
“As one type of property pays less, other people pay more,” said David Bottorff, Executive Director of the Association of Indiana Counties.
Posted by Marcia Oddi on August 26, 2015 08:31 AM
Posted to Indiana Government