Monday, February 23, 2015

Dark Store Disaster Strikes Peter White Public Library



Dark store disaster: Loophole throttles budgets, programs.  (Mining Journal, 2/23/2015)
The "dark store theory" took hold in Michigan in April 2013, when an empty Lowe's in Southeast Michigan successfully argued to the Michigan Tax Tribunal that the value of its property does not come from the property itself, but from the business conducted inside the building. This line of reasoning was then applied to stores where business was booming, and property taxes were subsequently cut in half. Just as if those businesses were "dark stores." 

Marquette and Breitung townships were the only two Michigan townships with the apparent resources and foresight to appeal this decision to the state supreme court. In December, the supreme court declined to hear the case - an expensive loss for the townships, who are now facing plummeting revenue. 

Peter White Public Library:  Closed on Sundays as of March 1, 2015.
The Peter White Public Library Board of Trustees met on Tuesday February 17, 2015 to revise the PWPL Operating Budget (October 1, 2014 to September 30, 2015) to reflect a loss of revenue caused by Michigan Tax Tribunal decisions. Duke Life Point-Marquette General Hospital (DLP-MGH) appealed the City of Marquette’s assessment of their real property to the Michigan Tax Tribunal for Tax Years 2013 and 2014. 

The City of Marquette valued the DLP-MGH property at $102,453,000 in true cash value. The Assessed Value and Taxable Value was set at 50% of the True Cash Value-$51,226,500 for 2013 and 2014.

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