THE HUNTER REPORT
TATE & LYLE (A. E. STALEY MFG.) TAX APPEAL NEWS
TATE & LYLE (STALEY - LOUDON)
BY: PAT HUNTER
Although Mike Campbell was cautious and optimistic, he was about to share some long awaited news. At Monday’s Nov. 4th Loudon County Commission meeting, Mike Campbell, Loudon County Assessor of Property gave Commission an update about two industrial tax appeals. The potential loss of revenue to Loudon County and Loudon City has been a topic of discussion at many meetings.
“We’ve received one decision on Tate and Lyle (A. E. STALEY MFG.) and it’s an initial decision. It’s not the official final order but the initial decision is basically a no change in value for the three-years”. “We’ve had our day or three days in Court, two in Knoxville and one in Nashville” Campbell relayed.
He also spoke about a delay period for Kimberly-Clark’s appeal. He traveled to Nashville to fit the schedule of the judge and attorneys and appraiser. We’re moving in the same direction with Kimberly Clark as Tate and Lyle he told Commission. He hoped that the initial decision on Kimberly Clark would be rendered by the end of the year.
Essentially this is a pretty large liability. Could you comment on that or would you rather not, worse case type thing asked Commissioner Don Miller. Campbell gave a rough estimate of $1.6 Million for the three years. He considered that to be a large number. Miller offered congratulations to all including Nashville attorney Bobby Lee who worked on the appeal.
Assessor Campbell credited his staff for their assistance and efforts and great legal representation. ‘We’ve had our day in Court” and the Judge has basically ruled a no change. It was good to be able to move forward, which was his main concern for Loudon City and Loudon County. It is a considerable amount of tax money but he cautioned to wait until a final decision and certificate was received on the appeal. By the end of the month there would be an official decision on Tate & Lyle.
To See Tate & Lyle (A. E. STALEY MFG.) Appeal click http://www.comptroller.tn.gov/repository/SB/judgeminsky/2013.10.25-AEStaleyMfgCo.pdf