Mall cost approved by Commission at $21 million
CHARLESTON, W.Va. (WSAZ) - A hearing between the Kanawha County Assessor’s Office and Hull Properties was heard by the Kanawha County Commission to dispute the cost of the Charleston Town Center property for tax purposes.
In May, Hull Properties bought the Charleston Town Center Mall for $7.5 million. Kanawha County Commissioner Ben Salango said Hull Properties values the property at $10 million while the assessor’s office values it at $30 million.
Salango said the assessor’s office initially valued the property at $51 million, then lowered their assessment by about 25%.
The hearing was for Hull Properties to make their argument that the assessment by the county was done incorrectly. Some topics they discussed were the square footage of the mall property.
“The parties are pretty far apart on their values the assessor has set the value in the thirty million dollar range and the Hull Group is around ten million dollars,” Salango said.
Of the tax revenue on this property, 70% would go toward the Kanawha County School system. The other 30% is allocated for other county entities like the sheriff’s office.
Salango said the two parties met outside during the hearing and came to an agreement of $21 million. The commission voted and approved the cost agreed upon by both the assessor’s office and the Hull Group.
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