Wellington Wal-Mart will now go on the city tax roll after 5-year tax rebate program

first_img Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comment (1) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. -1 Vote up Vote down Price chopper · 396 weeks ago Maybe some of the locals may come to appreciate Wally now…. Report Reply 0 replies · active 396 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments by Tracy McCue, Sumner Newscow — The Wellington Wal-Mart Super Center on the east edge of town has now been in operation for five years. And that is welcome news for the city of Wellington, because it can now start collecting on the discount store’s property taxes.Due to the Sumner County Neighborhood Revitalization Plan which was approved by the Wellington City Council, the Wal-Mart corporation has been receiving property tax rebates of 95 percent since the store has opened. But as of Jan. 1, 2013, those years are up. According to Della Rowley, Sumner County Appraiser, the Wal-Mart property is appraised at $9,010,060. At a assessed rate of 25 percent for commercial property, the city of Wellington’s assessed value will rise about $2.25 million. That will be welcome relief for the city of Wellington that has an overall assessed valuation of $41.75 million dollars in 2012.With Wal-Mart on the tax roll that puts the city of Wellington at around $44 million assuming the valuation elsewhere stays the same from the previous year. This is good news since the city of Wellington’s total assessed valuations dipped about $2 million from 2011 to 2012. Rowley said Wellington’s lower assessed valuation was due to a sluggish economy and the lack of housing sales from the previous year.So why has Wal-Mart not been paying city of Wellington property taxes for five years? The business took advantage of the NRP program which has been used to spark residential and commercial revitalization in Sumner County.On July 1, 2004, the Sumner County Commissioners approved a plan that is intended to promote the revitalization of Sumner County through “rehabilitation, conservation or redevelopment.” Thus within a 60-day period of getting a building permit, a business or residential property owner can apply for a tax rebate provided the construction is more than $5,000. A full rebate could go from one to five years.Thus, this program is used to spark economic and residential growth. Wal-Mart is far from being the only business or residential home to take advantage of the program.Wal-Mart, which was located on the west end of Wellington in the early part of the 2000′ decade, decided to build a Super Center more than five years ago which included a grocery store and larger retail selection base. The store opened in November of 2007.Wellington City Manager Gus Collins said the new influx of property taxes will help the city with budgetary concerns. A new budget is made annually in July. The new taxes from Walmart won’t be available until 2014.last_img

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