County Lowers Parx’s Tax Assessment by $2.2M

Last year, owners of the appealed their property’s $42.7 million tax assessment.

According to a story at PhillyBurbs.com, the Bucks County Board of Assessment Appeals reduced that assessment by $2.2 million to $40.5 million.

The story stated that under the new assessment the casino’s tax bill would drop from $7.7 million to $7.3 million. That would leave the school district down $300,000; the county by $47,000; and the township by $42,000.

Parx owners could appeal the new assessment.

According to the article, the casino’s own appraisal of its property would equate to an assessed value of $34 million and significantly lower local taxes.

Click here to read the full story courtesy of PhillyBurbs.com.