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Ridley School District missing revenue
A reduction in Wal-Mart’s assessment will cost the Ridley School District $24,845 in lost tax revenue.
Barbara Ormsby writes that School district Solicitor John F.X. Reilly reported at the January meeting of the Ridley School Board that the retail giant based in Eddystone sought to have its 2012 real estate assessment reduced from $8,074,550, based on the company appraiser’s fair market value figure of $11,962,296. Reilly said the district’s appraiser put the fair market value of the 15-acre site at $11,400,000. A negotiated settlement put the fair market value at $11 million and a new assessment at $7,425,000.
“The school tax bill will be reduced from $303,852 to $284,006, resulting in a revenue loss of $24,845 to the school district,” Reilly said.
The loss of nearly $25,000 in revenue comes on the heels of the 2013-14 proposed preliminary school district budget showing a short fall of $2,479,055.
By Barbara Ormsby, DelCoTimes, Jan 24, 2013
Comment
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Comment by Maripat King on January 26, 2013 at 10:59am -
If there's a loss of tax revenue to the Ridley School District, the board better get creative about doing more with less...just like the rest of us do with our household expenses. We homeowners can't afford to be saddled with more school taxes.
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Comment by John on January 25, 2013 at 2:40am -
Just one more reason not to shop at Walmart
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Comment by Kenneth Harper on January 24, 2013 at 11:23pm
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@Howard McCoy, no it is the brick apartment building closer to the curve. First one is 306 & the second is 312. This was a case that was agreed to with the borough.
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Comment by Howard McCoy on January 24, 2013 at 8:41pm -
@Ken Harper; is 312 E Ridley the house that's on the "s" curve ?
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Comment by Kenneth Harper on January 24, 2013 at 8:01pm
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Could the Ridley Shopping Center be next??
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Comment by Kenneth Harper on January 24, 2013 at 7:52pm
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Don't know if the Ridley School District ever followed up on the tax assessment problem with 312 E. Ridley Ave. The assessment for this property is wrong, has been paying the a lower amount than what a legal agreement they had with the borough of Ridley Park to pay more. This was a case from the RP Zoning Board.
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