Walmart Inc. Sues 31 Colorado Counties To Shrink Tax Bills
DURANGO, Colo. (AP) -- The parent company of Walmart has sued dozens of counties in Colorado where the company has store locations claiming their stores' equipment is being overvalued and taxed at an increasing rate. The Durango Herald reports that county assessors are tasked with taking inventory of a business' personal property, determining the items' value and taxing the corporations.
Authorities say Walmart Stores Inc. filed a lawsuit against 31 of the state's 64 counties saying the valuations don't reflect the stores' equipment which wears out faster due to overnight hours of operation.
Corporate officials say the lawsuit would reduce the value of its personal property at 95 of its stores and recoup attorney fees.
County officials say the retail giant has changed its story.
Walmart's Littleton-based attorney Brian Huebsch declined requests for comment.
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