Companies sue over tax valuations
Friday, May 28, 1999 | 11:55 a.m.
Howard Hughes Properties Ltd. and MCI WorldCom sued the state, claiming their properties are unfairly valued for tax purposes by the Clark County and Nevada assessors offices.
The lawsuits were filed separately Thursday in Clark County District Court.
Howard Hughes took issue with Clark County's assessed value of land at its Summerlin master planned community, while MCI WorldCom disputed the valuation of its statewide telecommunications network. Both companies are asking for a reduction in the assessed value and a refund of overpaid property taxes for the 1998-99 fiscal year.
The Clark County assessor used the aggregate value of each Summerlin property to reach its assessed tax valuation of about $300 million. Howard Hughes claims the fair method was to value the 14,700-acre property as one parcel.
MCI said the state's valuation of its property included intangible assets. It believes the proper valuation is the network's replacement value. MCI wants its assessment reduced by nearly $30 million, from $51.7 million to $22 million.
Both companies claim that other property holders have their properties valued by different methods that result in lower tax bills, a practice the companies refer to as "discriminatory." The Clark County and state assessor's offices say they were merely following state law in valuing the properties.
archive
- Most Read
- Discussed
- Most E-mailed
- Live Blog: Pacquiao wins by TKO in round twelve
- Police seek man who stole $2,000 worth of clothing
- Floyd Mayweather Jr. and Manny Pacquiao: The only fight fans want to see
- Clubs want to be ‘good citizen,’ so stripper-mobile ends its run
- Now we can all see Islamic extremism for what it truly is
- Nuclear plant in Ely could complicate radioactive waste, water issues
- Bruised and battered, Cotto says he will fight again
- Boulder City struggles with shocking allegations
- Ensign Federal Credit Union fails
- Manny Pacquiao says he feels stronger than ever
Blogs
The Greene Room
MWC Winners and Losers: Week 11
Elsewhere
Dana White continues to push for event in Abu Dhabi
Politics: Ralston's Flash
Harry Reid is powerful for Northern Nevada, too!
The Kats Report
New face of Monte Carlo includes all the faces of Caliendo
The Greene Room
Predicting this weekend's Mountain West football slate (2 Comments)
Top Chef: Las Vegas
Top Chef Episode 11: Child's play
Miech Again
UNLV prez Smatresk is ready for some basketball (14 Comments)
Calendar »
- 16 Mon
- 17 Tue
- 18 Wed
- 19 Thu
- 20 Fri
-
Actor's Expo at Rave Motion Pictures
Rave Motion Pictures Town Square 18 | 3 p.m. to 5 p.m.
-
Lily Tomlin at the Hollywood Theatre
Hollywood Theatre at MGM Grand
-
Neil Sedaka at the Orleans
Orleans Hotel-Casino
-
Supernatural Santana – A Trip Through the Hits at The Joint
The Joint
The Sun
Locally owned and independent for more than 50 years.
Technorati





