Walgreens executives went before the Kentucky Board of Tax Appeals on Thursday, August 29th. They're arguing that the method by which county assessors value their property should be modified and their properties' values should be lowered, based on fair market values.
Hopkins County Attorney Todd P'Pool says this could affect school districts statewide who depend on property taxes for funding.
Hopkins County School District alone received 65% of the total 2012 collected property taxes for Hopkins County.
P'Pool also warns that if Walgreens is successful, other brand name stores could follow suit.
"If Walgreens is successful then school districts across Kentucky will certainly feel the pinch. Because they could theoretically cut their tax bill in half, and other large retailers could do the same thing," says P'Pool.
Walgreens has already won this dispute in states like Wisconsin, and similar litigation currently exists with CVS Pharmacy in Florida.
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