Court: Company not required to pay property taxes on dorms
CHARLESTON, W.Va. (AP) — West Virginia’s Supreme Court says a company that built a group of dorms on West Virginia University’s campus and now leases them from the school doesn’t have to pay property taxes for the lease.
The Charleston Gazette-Mail reports the Supreme Court of Appeals of West Virginia ruling Thursday upheld University Park at Evansdale LLC’s argument that the assessed value of its leasehold should be zero, and not the roughly $9 million Monongalia County Assessor Mark Musick argued it was worth in 2015.
The ruling Justice Beth Walker wrote says Musick didn’t apply the proper standard for assessing leasehold interests.
Jim Walls, a lawyer representing the company, says his client will try to recoup the money.
Deputy Assessor Patrick Tenney says Musick wasn’t in the office Thursday, and they’re “still digesting” the ruling.
Information from: The Charleston Gazette-Mail, http://wvgazettemail.com.