Because the Reno Aces (Class AAA; Pacific Coast League) have a year-round lease on Aces Ballpark, owners can’t seek a property-tax reduction based on partial ballpark usage, according to a state panel.
The Aces ownership had sought a reduction in property values using a unique argument: because the ballpark is being used only part of the year, it should be valued accordingly: $11.8 million, instead of the current $23.7 million valuation. And if the value of the ballpark is halved, then so should the property taxes. (Of course, let’s put aside the interesting notion that a ballpark costing $58 million to build is only worth $23.7 million today.)
The State Board of Equalization didn’t buy the argument, saying that since the team’s lease was for year-round use, then property taxes should be based on year-round use. The Aces only pay $1 a year in its current lease but must pick up property-tax payments: that was $332,000 in property taxes this year. The team owners also owe another $761,000 in back taxes and penalties.
There’s still a route for one more appeal.
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