POTSDAM — The town continues to be in litigation with Walmart over a property tax assessment suit even after Potsdam Central School District settled with the big box retail giant last month.
Walmart has challenged its assessment amount via a tax certiorari suit in county supreme court at least three times in the last 11 years, according to court records.
Walmart is one of the largest taxpayers in the town of Potsdam. Currently, the assessed value of its property is just over $11.6 million, meaning the company pays at least $35,000 in property taxes to the town each year at 2020 rates.
The suit by Walmart contests the town’s assessment, arguing that it is really worth $4.9 million.
If it’s true, that would mean the company, which makes more than $542 billion a year according to Yahoo Finance, would pay roughly $20,000 less in town taxes per year.
Town Supervisor Ann M. Carvill would not comment on the matter given it’s still in litigation.
Potsdam Central School District’s Board of Education voted to approve a settlement with Walmart last month.
Under that agreement, the district agreed to reduce the assessed value of the property from around $11.6 million to $11.2 million, thus resulting in an approximate $10,000 loss in tax revenue each year.