Item Text

A-3. MGC PROPERTIES V. MC, TX2014-000322 Approve a settlement with MGC Properties, LLC, owner of Vistal Golf Course including the following provisions: 1) Reducing the market value of Assessor Parcel Number 300-71-105 from $6,672,959 to $2,000,000 for the 2015 tax year; 2) The property’s 2015 Full Cash Value will remain at $1,474,646, and the 2015 limited property value will be calculated pursuant to the applicable statutes; 3) Fixing the amount of the aggregate penalty for the ten years beginning tax year 2006 through tax year 2015 at $231,845.61 which shall be added to the tax levied against the subject property on the 2015 tax roll and shall be paid on or before Thursday, December 17, 2015 notwithstanding any language to the contrary on any tax bill; 4) Each party will bear its own attorneys’ fees and costs 5) Plaintiff waives any and all other claims it may have with respect to the assessment, valuation, classification and taxation of the subject property for the subject tax year(s), including, but not limited to, claims pursuant to A.R.S. § 42-11005 and claims pursuant to A.R.S. §§ 42-16251 to -16258; and 6) This settlement recommendation, and any judgments entered pursuant to it, are the product of compromise and dispute resolution and it may not be used for any purpose other than those stated herein. (C-19-15-047-S-00)