The City of Auburn has finalized a settlement with Walmart over the assessed value of the retailer’s Grant Avenue property, ending a tax assessment dispute that city officials say could have carried financial risks if it went to court.
During this week’s City Council meeting, members unanimously approved a resolution authorizing the agreement, the final step needed to complete the deal. The settlement follows negotiations involving legal counsel for the city, Cayuga County, and the Auburn Enlarged City School District, as all three taxing entities are affected by large property assessment challenges.
On Friday’s FLX Morning News on Finger Lakes News Radio, City Clerk Chuck Mason said disputes like this typically involve larger corporations that contest their valuations and often pursue similar challenges across multiple communities.
After negotiations, the parties agreed to reduce Walmart’s assessment by 4 percent from its original value and lock that figure in place for the next four years.
“It basically locks the Walmart assessment in at a value of 4 percent under what it was originally valued at by the city assessor,” Mason said. “We believe it’s more favorable than the risk of taking this item to court with Walmart.”
Mason noted the agreement avoids the possibility of the city having to refund past taxes — something that can happen when cases are decided in court. Instead, Walmart’s tax reduction will total about $5,000 per year over the next four years, an amount he described as relatively minimal for the city, county and school district.
The original request from Walmart sought a much larger reduction — about 45 percent — making the negotiated outcome a significant compromise, Mason said.
“These come up from time to time. We usually have two or three a year that we deal with,” he said. “It’s usually the larger corporations.”
The settlement has already been approved by Cayuga County and the Auburn Board of Education. The City Council’s vote this week was the final authorization needed to move forward.
Mason added that Walmart remains an important employer and commercial presence in the city, and officials are pleased to have the matter resolved.
