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TAX STATUS OF OLD SUNBURST PROPERTY ADDRESSED
Wednesday, April 13th, 2005 -- 2:37 pm
Posted by Riley Hebert-News Director
Also last night, the council revisited a request from the Colby School District for tax-exempt status for the first of two parcels of the old Sunburst property that are being gifted to them.
The Gian Sud Family Partnership is listed as the current owner of the $973,000 parcel of property, but it's expected to change hands soon.
City Attorney Bonnie Wacsmuth explained, by statute, the property could not be deemed tax-exempt this year, because it began the year in the hands of the Partnership, a taxable entity; therefore, the full year’s taxes are due.
It appears the parcel will come off the tax rolls next year.
"The law is pretty specific that property owned by school districts are exempt pretty no matter what they use that property for," Wacsmuth said.
According to the Colby school district, the parcel that they will be gifted this year was assessed at $973,000. Through an agreement with the Partnership, the school is required to pay the taxes this year.
Also last night, the Council followed a Planning Commission request to refrain from involvement - as proposed by the Gian Sud Family Partnership - in the development of a residential subdivision on another parcel of the Sunburst property.
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