THUNDER BAY -- Thunder Bay is ready to reject assessment appeals that would mean refunding about $4 million in back taxes to several local grain elevators and big-box stores.
Staff is recommending city council refuse to sign, or appeal, several settlements between the Municipal Property Assessment Corporation and property owners in the city.
When a property is assessed for tax value, the owner may appeal for a lower value through the Assessment Review Board. However, property owners often also reach negotiated settlements.
Several of those settlements go to council Monday night, before the review board makes its decision.
The settlements cover two Canadian Tire locations, Home Depot, and seven grain elevators.
Those deals mean the city must refund a little less than $4 million in taxes dating to 2008, to those property owners.
The city has the option of appealing the settlements, but staff say an appeal is not likely to win, and would simply cost the city more money.
Staff is recommending council refuse to sign the settlements, but allow the Assessment Review Board to make its decision.
(TBT News)
