Greater Latrobe School Board has approved retroactive tax settlements for two commercial properties along Route 30 in Unity that will increase the district’s tax revenue by about $38,000.
The board this week voted unanimously in favor of the settlements. One ends the district’s appeal of the assessed value of a property leased by National Retail Property Trust to MedExpress Urgent Care, near the intersection of Longview Drive.
According to a memo from Pittsburgh attorney Angela F. Giglio, the district’s legal representative in the case, an appraisal estimated the property’s value at $1,825,000 as of July 9.
The negotiated settlement places the parcel’s full market value at $1.9 million for 2018, $1.875 million for 2019 and $1.825 million for the current year, resulting in a combined addition of about $36,708 in school tax revenue. It will add about $9,000 in recurring annual revenue going forward, according to district business administrator Dan Watson.
Giglio said her firm does “not believe that we could obtain an appraisal report to support a significantly higher value and we recommend that the district approve this proposed settlement.”
The other settlement is with Edward and Carmella Rinaldi for a property just east of Beatty County Road that is occupied by Caribbean Pools. The Rinaldis agreed to accept a full market value of $115,000 for the parcel from 2016 through 2020, reflecting its purchase price in 2014.
That will result in a combined $1,330.83 in additional tax revenue for the district and $50 annually in the years ahead, Watson said.
