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Family Dollar appeals Rio Blanco County assessment, cites purchase-price allocation
Summary
Family Dollar's representative told the Rio Blanco County Board of Equalization the store's assessment should reflect a PricewaterhouseCoopers purchase-price allocation used in the company's 2025 sale; the board accepted an administrative denial and moved the matter to the Board of Assessment Appeals.
Noel Faulkner, representing Family Dollar, told the Rio Blanco County Board of Equalization that the petitioner's business-personal-property return used the fair values assigned by PricewaterhouseCoopers as part of the sale of Family Dollar and asked the board to align the county assessment with those allocations. Faulkner said the overall sale resulted in a large write-down and that the petitioner's filed value for the county account was much lower than the assessor's figure.
"We asked for a value of $4,718," Faulkner said, urging the board to base the assessment on the purchase-price allocation rather than historical bookkeeping under prior ownership. Faulkner described the corporate transactions that led to the 2025 sale, including the $1,900,000,000 purchase price noted in his presentation and the $429,000,000 residual value his team said was spread across the acquired stores.
The petitioner's presentation was procedural and factual: Faulkner identified himself for the record as Noel Faulkner of Ducharme McMillen & Associates and said he represents Family Dollar. He said Family Dollar does not have access to all historical Dollar Tree records and that the county assessment should instead reflect the fair-value allocation used in the sale documentation.
The matter did not resolve at the board level: after questions from the board and a staff recommendation about an administrative denial, the board voted to accept the administrative denial, which will allow the petitioner to pursue the matter at the Board of Assessment Appeals.
