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Icahn’s casino tax appeals could cost Atlantic City millions

April 26, 2017

ATLANTIC CITY, N.J. (AP) — Atlantic City could be forced to again refund millions of dollars in property taxes to another casino owner.

The Press of Atlantic City reports (http://bit.ly/2q40XMX ) investor Carl Icahn’s companies have filed another round of tax appeals on the assessments of the former Trump Plaza and Trump Taj Mahal casinos for 2017. Icahn also has appealed the Tropicana Atlantic City’s assessment.

The complaints don’t outline how much Icahn is seeking from the city but past deals have been costly.

Icahn’s companies paid Atlantic City more than $30 million in property taxes for the three properties. However, all three have seen their value drop by over $700 million since their 2014 assessments.

The Community Affairs Department, which is overseeing a state takeover of the city, says talks are ongoing.


Information from: The Press of Atlantic City (N.J.), http://www.pressofatlanticcity.com

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