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Property Tax Over Assessed

Monroe, MI: (Apr-08-08) Automotive Components Holdings, the former Ford plant in Monroe, MI, brought a lawsuit against the city, alleging that the city had over assessed the property, thereby causing the company to pay excess taxes. The city and the company are said to have hired experts in the field to assess the property, and based on their opinions, the city was found to have over assessed the factory property.

Sources stated that following the assessment report, the two parties reached a settlement agreement, in which the city of Monroe agreed to pay the company $734,000 to resolve allegations. Later, the settlement was slashed to $300,000. City officials claim that the settlement will have an impact on the proposed city budget. [MONROE NEWS: CITY COUNCIL ROUNDUP]


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Published on Apr-9-08


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