SANATOGA PA – The proposed settlement of an real estate assessment appeal, lodged by owners of a Medical Drive office building and soon to be recommended to the Pottsgrove School District Board of School Directors for approval, was accepted Tuesday (Nov. 28, 2017) by the Lower Pottsgrove Board of Commissioners.
A Wayne Pa-based limited partnership company, Brookside Professional Building LP, has owned the property at 1555 Medical Dr., since October 2010, Montgomery County property records show. It successfully won an appeal of the property’s value, which it claimed was too high, township Solicitor Charles Garner reported.
In negotiations with the firm, attorneys for the school district tentatively agreed the property’s value would be lowered by $90,000 to settle the appeal, Garner noted. Both the township and county must approve the settlement, because both also levy taxes on the property.
Typically the school district, which taxes at the highest rate, loses the most in an appeal. In this settlement, Garner told commissioners, the school district will lose about $3,700 annually in tax revenue, and the township about $327. The county’s revenue reduction was not mentioned. Commissioners unanimously authorized the agreement.
The property consists of about 1 acre, with a one-story building of fewer than 15,000 square feet of space. The county reported its current assessed and appraised value at $617,100.
Related (to the Lower Pottsgrove Board of Commissioners’ Nov. 28 meeting):
- Township OKs Medical Drive Valuation Appeal
- 5 Named To Township Infrastructure Committee
- Executive Session Covers Personnel, Real Estate
- Guess Where $859,320 Went During October?
- Township Supplied Stacks Of Stats On Hazards
- Board Plans Forming Infrastructure Committee
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