Drug store giant Walgreens is suing the City of Stevens Point after the company says they were overtaxed. The chain claims the city improperly assessed its local store causing them to overpay their property taxes by more than $127,000 over the last three years.
In 2008 Walgreen won a similar suit against the City of Madison. In that case the State Supreme Court ruled a tax assessor must use a building's fair market value, not the value at which the building is rented out, to determine the building's tax bill.
The Stevens Point City Attorney, Andrew Beveridge, says this is not the first time Walgreens has sued Wisconsin municipalities.
"The Walgreens situation is very unique in that there are certain facts that are highly specific which have led to the number of these suits throughout the state," Beveridge explains.
Walgreens is currently in litigation with the City of Wausau as well, asking for a more than $80,000 refund on its 2012 taxes.
The City of Stevens Point hopes to settle the suit before it goes to court.
Walgreens does not comment on pending litigation.
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