GREEN BAY (From WLUK) - Georgia Pacific is seeking to reduce the assessed values of its two paper facilities in Green Bay by more than 40%.
According to the city, the Wisconsin Department of Revenue denied Georgia Pacific's initial request, but the company is appealing to the Wisconsin Tax Appeals Commission.
At Tuesday's City Council, aldermen will be asked to authorize city staff "to file objections and/or cross-appeals" regarding the assessments. It also is being asked to approve hiring an attorney to represent the city in the issue.
According to G-P spokesperson Mike Kawleski, the company had its properties appraised, determining an appeal of the assessed value was in order. If granted, the reduced property value could reduce the annual property tax bill by about $790,000.
The documents provided to the city council detail the Georgia Pacific request:
500 Day Street: reduce the property value from $14,663,000 to $8,290,000, a decrease of $6,373,000 or 43%
1919 S. Broadway: reduce the property value from $61,798,100 to $33,320,000, a decrease of $28,476,100 or 46%
The state denied the application for reduction on Feb. 23. The appeal was filed April 21, according to the Dept. of Revenue.
It will likely be two-to-three months before a scheduling conference is held, according to the Tax Appeals Commission.