For the past seven months Creston Hy-Vee and Union County have been in a dispute regarding Hy-Vee’s property tax evaluations. Hy-Vee believed their property taxes were “excessive and confiscatory” and wanted its property taxes reduced from $1,299,610 to $649,805.
The two parties recently settled and Hy-Vee’s property taxes for 2011 and 2012 were reduced by almost $200,000 — from $1,299,610 to $1.1 million. Additionally, the two parties agreed Creston Hy-Vee’s property taxes will remain at $1.1 million for 2013 and 2014.
“I don’t believe it’s fair, especially to other parcels in Union County,” said Gene Haner, county assessor. “But, we had no choice but to settle. The expense would have been too high to continue.”
Haner said the total costs paid by the county for this litigation was more than $15,000. Each party has been stipulated to bear their own costs for attorney fees and expenses incurred in any manner in connection with the investigation, litigation or resolution.
Haner added the litigation is being paid for through the assessor department’s reserve fund.