Walmart tax settlement will reduce revenue across Richland township

CAMBRIA COUNTY, Pa. (WTAJ) — A commercial tax assessment appeal settlement with Walmart is set to lower local funding for schools and government services in Richland Township.

Walmart’s fair market value for its property at 150 Town Centre Drive would be cut nearly in half, from $18 million to $9.3 million, as a result of an appraisal that Walmart’s counsel is expected to accept, according to our media partners at the Tribune-Democract. This will affect the Richland School District, Richland Township and the county.

Walmart’s total face property tax bill is divided among the three entities. With this change, the tax bill drops from $238,191 to $130,360 based on local tax rates and the pending drop of Walmart’s fair market value, which, according to the Tribune-Democract, would also decrease its value assigned for taxation.

The township accepted the settlement on Monday. Richland School District Solicitor Timothy Leventry recommended in a letter to that township that the appraised contacted by the district advised that box stores’ property values decreased over the last few years based on comparable sales.

Our media partners at the Tribune-Deomcract said that Walmart enlisted its own appraiser, who said the property’s fair market value was a little over $5 million. With that being said, the $9.3 million settlement is better for the school, township and county, even though they will still lose money.

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After all parties sign off, the settlement will now head to a Cambria County judge for approval.

To read more, visit our media partners at the Tribune-Democrats website .

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