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November 29, 2009

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Panel rejects Flamingo’s bid for reduction in property taxes

Sunday, Feb. 28, 1999 | 9:24 a.m.

The Washoe County Board of Equalization rejected the downtown Reno resort's appeal Friday for lack of financial information.

The county assessor's office recommended a 20 percent cut in the resort's taxable value from $62.5 million to $50 million because of a significant drop in income.

County appraiser John Stafford told the board that the casino's operating income dropped from $15.6 million in 1995 to $8.3 million last year.

Hilton officials didn't immediately say whether they would appeal the ruling to the state Board of Equalization.

In a related matter, the county board agreed to reduce the taxable value of Reno's Park Lane Mall from $25.9 million to $21 million.

Board members took the action after the mall's owner expressed doubts about Max Baer Jr.'s ability to build Jethro's Beverly Hillbillies Mansion & Casino there.

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