Monday, June 30, 2014

Courier-Times Reports Anchor New Castle Pharmacy Appeals Property Tax in Henry County

From the New Castle Courier-Times:

A fight over property taxes could end up costing Henry County $180,000 or more.
A property tax fight between Anchor New Castle Pharmacy, the company that purchased the land Walgreens now occupies, and the Henry County Assessor’s office is similar to the fight between David and Goliath, said Jeff Wuensch, chief operating officer for Nexus Group, a company which works closely with the Henry County Assessor’s office.
According to Wuensch, Anchor purchased the former Red Barn site, located at the intersection of Ind. 3 and Broad Street. Anchor is appealing property tax assessments for 2011 and 2012 before the Indiana Board of Tax Review (IBTR). Anchor also filed an appeal of its 2013 assessment, which Wuensch said was denied by the Henry County Property Tax Assessment Board of Appeals, and could also go before the IBTR.
“Like any taxpayer who believes his real estate assessment is excessive, we have the right to appeal,” said Phil Caruso, a media relations representative for Walgreens corporate office. “We are exercising that right.”
If Anchor wins, Henry County could have to refund that company $150,000 plus about $30,000 interest, said Henry County Assessor Jodie Brown.

Tax income lost if Henry County loses the case will cost the community about $50,000 per year Brown said. “A loss at the state will be devastating to the county, local taxing units, and New Castle schools.”