
Walmart has filed another lawsuit against the city of Oshkosh, arguing that its supercenter on South Washburn Street isn’t worth nearly what the assessor thinks.
The new case, filed June 30, says that the value of the property is no more than $10.4 million, compared to the $13.1 million that the city says it’s worth.
Three years ago the city assessed the property at $16.6 million.
But Walmart sued in 2019 and again last year. The 2019 suit was settled out of court while the 2020 case is continuing. A status conference is scheduled for next week in last year’s dispute.
Other “big box” retailers, such as Lowe’s and Menards, have won significant rebates from the city on the grounds that their buildings were overassessed. The retail chains argue that their stores are worth much less than local real estate assessors have determined.
City officials argue that the retail chains are taking unfair advantage of the assessment process and pushing their share of the tax burden off to small businesses and residential property owners.
The controversy is frequently described as the “dark store” issue because retailers have argued that their stores are so specifically designed that they would have a very low value to other users. Under this theory, even a big-box location that is thriving should be compared to vacant stores to come up with its assessment value.
“The dark store legislation addresses two property tax loopholes that have enabled certain commercial properties to demand, and receive, significant property tax reductions,” according to a statement from the League of Wisconsin Municipalities.
The first one allows the use of vacant stores as comparable sites to determine value. “The second loophole is based on the 2008 Wisconsin Supreme Court Walgreens decision, which prevents an assessor from considering actual contract rent in determining the value of certain types of retail income property,” the league said.
Walmart has previously argued that its Oshkosh property is worth no more than $8.5 million.
Bagikan Berita Ini
0 Response to "Comments on: Walmart sues the city, again, over property taxes - Oshkosh Examiner"
Post a Comment