Two Bayfront Businesses Will Not Earn Tax Exempt Status
February 28, 2013
After a reassessment appeal Wednesday, two bayfront businesses will not earn tax exempt status.
RCR Yachts and Bay Harbor Marina filed an appeal with the reassessment office in hopes of becoming tax exempt properties.
RCR Yachts CEO Don Finkle says they believed the taxes were too expensive for the property.
Director of Assessment Scott Maas broke down the numbers for us; this is the combined total for the two parcels in RCR Yachts.
Before RCR Yachts property was assessed... It was at $461,000
The total value after reassessment comes was valued at $704,500
After the first appeal, they were able to get the price down to $400,000... and that's what they will be expected to pay taxes on.
And in a meeting Thursday morning, Mayor Joe Sinnott and County Executive Barry Grossman strongly agree that paying taxes are necessary to keep the city above water.
