ST. LOUIS COUNTY • Harrah's Maryland Heights casino has filed an appeal of the new appraised personal property value that St. Louis County Assessor Jake Zimmerman set on the venue.
In the appeal, filed last week, the casino asserted that the value of its personal property was about $30 million, far below the $443 million appraised value that Zimmerman set on the venue's personal property last month.
Zimmerman said he set most of the casino's value on the personal property side, rather than on real estate, because the state classifies such casinos as barges, which are taxed as personal property.
Last year, the casino's personal property was appraised at about $152 million, while its real estate value was set at $63 million. The county's new appraised value would increase the casino's annual property taxes to $14.3 million, from $6.2 million last year.
Zimmerman cited the pending sale of the casino for $610 million as justification for his increase.
In its appeal, the casino asserted that, by citing the sales price of the casino, Zimmerman was "unlawfully attempting to utilize a business valuation as opposed to an accurate valuation of the personal property at issue."
A hearing date for the casino's appeal has not been set.