Walgreensâ tax appeal is denied
ELLSWORTH â An appeal by Walgreens of its tax assessment found no traction with the city Board of Appeals and Assessment Review on May 24, with members unanimously denying the request. New Jersey attorney Bruce Stavitsky, representing the drug store and pharmacy at 226 High St., had argued that the cityâs $3,307,300 assessment did not reflect the market value for similar free-standing commercial properties in that neighborhood and for âa very typical pharmacy.â
City Assessor Larry Gardner begged to differ.
Walgreensâ land is assessed at $1.322 million for its 2.2-acre plot. The building is assessed at $127 per square foot for a total of $1,892,100. The two figures, combined with other assessing factors, are how Gardner arrived at the retail chain storeâs $3.3 million assessed value. The city property tax comes in at about $62,000 annually.