Two bayfront businesses are now struggling to survive, after they say their reassessed property taxes have significantly increased.
One business owner tells us they have to challenge their reassessment value in order to stay afloat.
These two bayfront businesses want to stay anchored in Erie.
RCR Yachts and The Bay Harbor Marina are trying to earn a tax exempt status after a drastic increase in taxes over the last year.
Port Authority Executive Director Ray Schreckengost tells us that their lease agreement says they will pay taxes.
While the authority could help in a reassessment appeal, they will not support a tax exempt status.
RCR Yachts general manager Tracy Buczak tells us all they are asking for is a relief.
He says this is their third lease with the Port Authority, and within the last year, the authority has dramatically increased their lease.
Late this afternoon, these businesses have filed an appeal with the tax assessment office, in hopes of resolving this issue.
These businesses are appealing this in front of the tax assessment office.
Right now we can tell you that RCR Yacht withdrew their exemption appeal.
Bay Harbor Marina did not, but the board denied their exemption.
As of now, the tax reduction issue has been postponed.
Schreckengost says the assessment now is in the 1.5 million dollar range, and these businesses are trying to get that down to at least 600-thousand dollars.