After seeking a major reduction in its tax bill, Walmart has reached a settlement with the City of Auburn and other local governments over the assessed value of its store on Grant Avenue.
The agreement involves the city, the Auburn Enlarged City School District and Cayuga County. It reduces the property’s full market value from $18 million to $17,333,333 and freezes the assessment for the next three years, aligning with Auburn’s reassessment schedule.
The settlement has already been approved by the Auburn school board and Cayuga County Legislature. The Auburn City Council is expected to vote on the agreement this week.
City property records list the site’s full market value at $18 million, with a total assessed value of $13.5 million. City Assessor Jeanne Hering said the current assessment was the result of negotiations with Walmart and was lowered from more than $14.5 million.
Walmart filed a petition last year challenging its assessment, seeking to reduce it to $7.5 million — a decrease of more than 44 percent. In its filing, the company argued the valuation was excessive, unlawful and unequal.
Under the settlement, the 2025 assessment will remain unchanged and no tax refunds will be issued. Beginning in 2026, the property will be assessed based on the agreed-upon market value of $17,333,333.
In a memo to the City Council, Corporation Counsel Nate Garland said the agreement avoided the need to hire an appraiser for a full trial-ready valuation, which could have been costly.
Garland said the city is expected to lose about $5,000 in tax revenue each year under the settlement but noted the agreed value is significantly higher than what Walmart requested. He added that the city assessor’s office reviewed the agreement and raised no objections.
