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twitterPanel 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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