BRIEF DESCRIPTION OF AGENDA ITEM AND REQUESTED BOARD ACTION:
Discussion/approval/disapproval of proposed settlement of property tax valuation appeal case number ST2023-000001, pending in the Arizona Tax Court, and authorization of counsel to execute all documents necessary to finalize settlement. (Scott Johnson/Douglas Wolf)
BRIEF DESCRIPTION OF THE FISCAL CONSIDERATIONS AND/OR EXPECTED FISCAL IMPACT OF THIS AGENDA ITEM:
The proposed settlement reduces the full cash value of the property which is the subject of the appeal. This in turn reduces the property tax liability of the Plaintiff.
BRIEF DESCRIPTION OF THE EXPECTED PERFORMANCE IMPACT OF THIS AGENDA ITEM:
The proposed settlement makes the full cash value of the property more equitable with surrounding property values and more closely approximates the market value of the property for the tax valuation year, which is required by the Arizona Constitution and Arizona State Law.
MOTION:
Approve as presented.
ATTACHMENTS
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