JAMESTOWN – The Post-Journal says total taxable property assessment for the city of Jamestown could see a $4.1 million hit if the State Supreme Court rules in favor of several plaintiffs who’ve recently filed separate cases in Mayville, disputing assessment of their properties.
The largest disputed assessment comes from the owner of the Hampton Inn, which is situated at the city line on N. Main Street. In that case, owner Sandalwood Hotels LLC is asking the court for a $2.28 million reduction on the hotel’s $4.1 million property tax assessment.
In a separate case involving a hotel, Star Hotels – the owner of the LaQuinta Inn on West Third Street – is asking to have the assessment on the hotel building reduced by $670,000 – bringing the new assessment down to $1.57 million.
Meanwhile, Bottling Group (Pepsi Cola Bottling) at 2224 Washington St. is requesting a $725,000 reduction on its assessment, bringing it down from $925,000 to $200,000.
And an LLC known as Budget Rental Units – which owns various rental properties in the city – is asking for a total reduction of $430,00 in two separate filings involving five pieces of property around the city.
For the city 2019 budget, the total taxable property assessment for the city of Jamestown is $671,588,000, with the property tax revenue coming in at $16,012,000 – based on a tax rate of $23.85 per thousand. If the court were to rule in favor of each of the plaintiffs and give them a new assessment at the amount each is asking for, the lost tax revenue would be an estimated $97,000.
If the taxes are not reduced, what’s keeping the business from pulling up.and leaving Jamestown?