New Castle News
NEW CASTLE —
The Lawrence County commissioners have approved a tax assessment settlement for a senior citizens housing complex.
At their meeting Tuesday, which took place in Bessemer, they accepted a reduced tax assessment agreement for the Lightner Greene development off Mitchell Road at Eleanor Drive in Neshannock Township.
The settlement already has been approved by the Neshannock Township supervisors and school board.
In 2011, the Lawrence County assessor had assessed the property at $5,635,800. The property owner appealed, arguing the assessment should be $1,790,700.
The property owner and the three taxing bodies ultimately reached a settlement setting the fair market value at $1,850,000.
J.R. Hardester, the county assessor, said the appeal involves 10 years of back taxes for which the three taxing bodies would have to refund the difference. Instead, they have agreed to offer a tax credit for the property’s future taxes for 10 years, totaling $16,842.60 each year from the three taxing bodies.
The county’s portion would credit the property owner $4,715 per year, or $47,000 over the next 10 years, Hardester said.