“Stores generate jobs, pay state and local income tax, sales tax and property tax. “Lowe’s goes through a process every year to review property tax values for all its properties across the country,” writes Karen Cobb, a spokesperson for Lowe’s corporate public relations department.
Bexar County Appraisal District non-binding arbitration hearing scheduled for 17th of October. The property tax base could be devastated even further based on the result of Lowe’s vs. The dark-store theory has helped Lowe’s and other big-box retailers’ escape from the payment of millions of property-taxes that would normally help fund city and county services.
As a result, retailers claim that their buildings are actually worth much less than what loca When contesting its appraised value, a big box corporation basically compares with a similar size structure that has ceased operation. A dissatisfied Lowe’s sued BCAD based on a tax dodge known as the “dark-store theory”. As a result, BCAD reduced Lowe’s value a bit, but not all the way down to $20 a square foot. The expected value of Lowe’s was more like $20 a square foot. However, Lowe’s wanted BCAD to pretend as if none of its local stores exist and then come up with a much lower tax rate. According to BCAD Tax records for the past three years, the average value of Lowe’s San Antonio area store came out to $82 per square foot.Įighty-two dollars sounded too high to Lowe’s so they countered during a BCAD review board hearing. Lowe’s store stock a large range of home improvement products like Power tools, mulch (cover), touch-up paint, leaf blowers, bathroom vanities, dimensioned lumber and more.Įach year, like every other San Antonio area commercial and residential property, Lowe’s assessed market value by Bexar county appraisal district for which a property tax figure is calculated. It operates a chain of retail home improvement and hardware stores. Lowe’s is the second largest home improvement retailer in the United States. Options For Providing The Appraisal District Information On Personal Property.Rendition And Discovery To Facilitate Valuing Personal Property.How Do Appraisal Districts Estimate Value?.Valuation Of Personal Property In Practice.Commercial Property Tax Protection Program.