The city of Cudahy will reimburse Walgreens for $211,011 in property taxes from 2006-2008.
City officials are returning the money after the Wisconsin Supreme court sided with Walgreens in case against the city of Madison. The court ruled that Walgreens' property assessments should be based on the rent the company pays to lease the property rather than fair market value.
Walgreens was challenging Cudahy's assessment and City Accountant Bruce Schuknecht said the city decided to lower the assessment because Milwaukee had already settled on reimbursing the national store chain. Cudahy would have likely lost a case against Walgreens and could have incurred more legal fees in the process.
There are two Walgreens stores in Cudahy. One is located at 3201 E. Layton Ave. and another is located about two miles away at 6241 S. Packard Ave.
Schuknecht said the reimbursement in back taxes will not hit taxpayers. The city will be refunded from Milwaukee Metropolitan Sewage District, Milwaukee Area Technical College, Milwaukee County, the state of Wisconsin and the school district.
But because the Walgreens stores will be assessed $74,000 less in 2009, taxpayers will have to pick up the tab, he said.
Each household will have to pay about $10.88, which will appear on the 2009 tax bills, he said.
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