County approves Riverwalk tax refund

Published 12:03 pm Tuesday, September 21, 2010

Riverwalk Casino stands to be refunded more than $110,000 from taxes paid on its local holdings if legal advisers agree to a settlement OK’d Monday by Warren County supervisors.

Values on the Warrenton Road facility’s land and inventory will hit the books at $50,401,990 — more than 35 percent less than originally recommended by the Tax Assessor’s Office. In its appeal, the company argued for a $30.7 million total value and claimed the county didn’t follow state-set criteria for gaming venues of comparable size.

The lower valuation translates into a tax liability of $926,968.20, an amount Tax Assessor Richard Holland said was determined on the basis of the casino’s smaller size compared to neighboring Rainbow Casino and DiamondJacks Casino farther upriver and Riverwalk’s parking garage and hotel.

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