CVS might need some Tylenol to soothe its property tax headache in Bloomington, Ind. where the Indiana Tax Court won’t prescribe a discount the retailer sought for a pharmacy’s valuation.
In April, the Indiana Supreme Court handed Kohl’s Corp. a victory when it agreed not to review a lowered property assessment that was awarded to one of Kohl’s stores because of the growing vacancy and dropping values of other shopping centers in its area.
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Baraboo is joining communities statewide in asking the state Legislature to close a tax loophole exploited by big-box retailers.
On Tuesday, the City Council voted unanimously to support a resolution asking for legislation to eliminate the “dark stores” loophole. National retail chains looking to reduce their property tax burden are suing municipalities over their assessments, claiming their stores should be valued the same as vacant buildings of comparable size.
Dark stores are closed and vacant commercial buildings. Big-box retailers have argued that dark stores can be considered when valuing their property. Assessors and appraisers have argued that dark stores are not comparable to open and operating stores, and shouldn’t be used for property tax valuation. In this article, Fredrikson & Byron, P.A.’s Judy Engel and Lynn Linné discuss the dark stores theory and why using vacant stores in property valuation is an acceptable appraisal practice.
MISHAWAKA — St. Joseph County will refund more than $500,000 in property taxes collected from Meijer after agreeing that assessments of the chain’s Bremen Highway store here should have been lower from 2006 through 2011.
Hundreds of thousands of dollars in property taxes are at stake in a legal brawl between big-box stores and St. Joseph County.
Three Meijer and two Kohl’s stores in the county have appealed their property assessments for multiyear periods.
The retailers, faced with challenges as more people shop online, want to slash property taxes by arguing stores should be taxed the same as vacant ones, also known as dark boxes.
The Indiana Supreme Court’s decision Thursday not to hear a case will likely cost local governments millions of dollars in property tax revenue.
The conflict surrounds property tax valuations of big box stores – in this case, a Kohl’s. Local governments say the assessment should be based on how much value the property is worth to the current user, not some hypothetical future user.
A battle pitting big-box retail giants including Menards and Wal-Mart against Wisconsin towns and cities is headed to the Legislature.
Republican-backed proposals, written in conjunction with the League of Wisconsin Municipalities, are designed to close the so-called dark store loophole and increase how much the mega-retailers pay local communities in property taxes.
The Indiana Tax Court is taking its oral arguments on the road and heading to Bloomington this week.
A Bexar County arbitration panel rejected arguments by Lowe’s Home Centers to value some of its San Antonio area stores as if they were empty instead of functioning businesses, according to a seven-page decision issued Wednesday.
It’s an argument the North Carolina-based company has successfully used in Michigan and Indiana where major retailers have driven down property values and tax revenue. City officials say a victory for Lowe’s could cost area taxpayers more than $272 million over five years if the home improvement retailer wins.