Aces vs. The Tax Man: Six-Month Lease on Deck

Washoe County says that Nevada Land LLC, which leases Aces Ballpark from the Reno Redevelopment Agency for the Triple-A Reno Aces (Pacific Coast League), owes $332,000 in property taxes this year and $761,000 is back taxes and penalties.  Nevada Land thinks it’s too much because the property is only used six months out of the year.  They have appealed the assessment to the state Board of Equalization.  To bolster their case, the redevelopment board voted to approve a nonbinding letter of intent to renegotiate the lease into six-month terms.  Read more here.

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Filed under Lease & Contracts, Legal, Money & Financials, Uncategorized

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