Appeals board lowers Lowe’s property value
LOCK HAVEN — Lowe’s Home Center in Bald Eagle Township has had its assessment reduced after a recent hearing before the Clinton County Assessment Board, Clinton County Chief Assessor Keith Yearick said.
Yearick said Wednesday that the property’s value was lowered from $7.69 million to $7.2 million.
Assessed values are used to determine local real estate taxes, for Bald Eagle Township, the Keystone Central School District and Clinton County.
A county assessment appeals board heard the request for the reduction at a hearing on Oct. 21 when local attorney Lee Roberts had sought a reduction to $4.8 million for the 10 year old hardware/building center just off Hogan Boulevard.
The appeals board hearing the request consisted of commissioners Paul Conklin and Jeff Snyder and Loganton resident Tom Jeffries.
Lowe’s was built a decade ago and used the state’s TIF (tax increment financing) program abate real estate taxes over the last 10 years.
Roberts had argued the valuation should be based on the property itself, not the company’s ability to pay. He said the trend in Clinton County is that property value decreases over time. He noted the Baker Hughes property in Lamar Township had cost $45 million to build but presently sits unoccupied, now being marketed for $9 million.