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Lansdale OKs North Penn Assessment Appeal

North Penn School District negotiated an increase in the assessment of the Rite Aid property at 10 West Main Street to $1.9 million

North Penn School District and Lansdale Borough have agreed to a negotiated assessment increase of the at 10 West Main Street in Lansdale.

The property formerly assessed at $736,630 has been increased to an assessment of around $1.9 million, according to borough councilman and administration and finance committee chairman Dan Dunigan.

"There was an appeal filed by the North Penn School District (for) 10 W. Main St. - the Rite Aid. As a result of that, there was a negotiated increase in the assessment of the building, which resulted in a substantial increase," Dunigan said.

Dunigan said the new $1.9 million assessment totals about a $35,000 increase in tax value.

"The school district is collecting the vast majority. The borough gets its portion, about $4,300," Dunigan said.

The property is owned by 1401 Tower Partners LP, in care of Rite Aid Corporation of Harrisburg.

Estimated taxes for the property under the old assessment totaled $2,578 for Lansdale; $2,322 for Montgomery County and $16,174 for the school district, according to Montgomery County records.

The new assessment brings the totals for Lansdale, Montgomery County and the school district to about $6,650; $5,988 and $41,717, respectively.

The tax millage rates for Lansdale, Montgomery County and North Penn are: 3.5, 3.152 and 21.9564. A mill is equal to $1 per $1,000 of assessed value.

Steven Long June 30, 2012 at 03:42 PM
As a Real Estate Agent for 25+ years, I am very familiar with the laws and processes in place for a School District to appeal an assessment. You likely should have touched base on the process, for those who are not familiar. In this article, you failed to mention any input, response or action by the owner. You make it sound like the School District and Boro got together, and came up with a new figure on their own.
Bethany Gross July 01, 2012 at 06:11 AM
I read this article because I was curious about why the school district is involved with this Rite Aid... I'm still curious...
Bethany Gross July 01, 2012 at 06:13 AM
Oohhh wait- is it because of the taxes that are payable to the district? They weren't getting the cut they thought they were entitled to?
Parentfirst July 02, 2012 at 03:20 PM
For the last several years, the district has been discussing hiring a consultant to figure out for them properties that have increased in value, in spite of the real estate crash several years ago. I believe it was last year, just prior to the election, the district, rather a local newspaper listed the 24 or 28 businesses that the district would go after for these assessments. Rite Aids, Thrift Drugs, CVS's were just some of the commercial properties that they were going after.

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