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Council hears update on contested valuation for 20 Courtyard Boulevard; county recommended delay
Summary
Council discussed a property tax appeal for 20 Courtyard Boulevard where owners seek a reduction from $1.8M to $288,000; the county advised waiting as the appeal moves to the state board and the council may need to reserve funds for a potential refund.
Mayor Mike Mossman introduced a request concerning the appraisal of 20 Courtyard Boulevard after the building’s new owners sought a large reduction in assessed value. Commissioner Mike Kirk said only the fire department and the city filed objections to the appeal; he explained the owners are relying on a Department of Revenue rule that can allow taxation based on income with a per‑capita cap of $863.
Kirk summarized the numbers on the record: an earlier valuation of $1.8 million is being contested down to $288,000, while the property was purchased by the current owners for $6 million. The county recommended delaying city action because the appeal is being forwarded to the state board and could take years. Mayor Mossman suggested the city consider setting aside funds in case a successful appeal leads to a substantial tax refund to the owners. No final action to hire an appraiser or set reserves was taken at the meeting.
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