Greater Latrobe School Board this week agreed to settle a tax assessment appeal by Lowe’s Home Centers, which operates a store at the Wildcat Commons plaza in Unity.
The settlement reflects a new fair market value of $6.5 million for the Lowe’s property, compared to a previous value of $7.2 million. According to attorney Ryan Cribbs, a member of district solicitor Ned Nakles’ legal firm, Lowe’s had wanted the value dropped to $5.8 million before the settlement was proposed.
The new real estate assessment goes into effect retroactively for the 2018-19 school year.
“The 2019 tax impact is roughly $9,500 less than the current assessment, however, it is roughly $9,000 greater than the original position Lowe’s took, which was based on their appraisal,” district business administrator Dan Watson said.
Lowe’s paid about $95,000 annually in school taxes before the settlement, Watson said.
