CVS on College Avenue in Bloomington. Staff photo by Janice Rickert
The Indiana Board of Tax Review has ruled in favor of CVS on its appeal of the county’s assessments of its College Avenue location from 2009 to 2013.
The decision, handed down last week, could be the first of many, as other CVS stores in Monroe County have also filed appeals for previous tax years, county auditor Steve Saulter said.
County Assessor Judy Sharp said she is disappointed by the decision and intends to petition the Indiana Tax Court to review the board’s decision.
“This isn’t over with,” Sharp said. “I am not folding up my tent and going home.”
Saulter said it is still not known how much of a refund the county would be required to pay if the board’s decision stands, adding that those calculations should be available soon. In making its decision, the state board significantly lowered the property assessment for the CVS store. Just for 2013, the property assessment will decline more than $1.3 million.
In considering the case, the board cited differences in views of the property’s true tax value, finding in favor of the approach taken by the appraiser for CVS.
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