Parent company of Walmart sues 31 Colorado counties to shrink tax bills
DURANGO, Colo. — The parent company of Walmart has sued dozens of counties in Colorado where the company has store locations. The company claims its stores’ equipment is being overvalued.
The Durango Herald reports that county assessors are tasked with taking inventory of businesses’ personal property and determining the items’ value.
Authorities say Walmart Stores Inc. filed the lawsuit against 31 of the state’s 64 counties saying the valuations don’t reflect the stores’ equipment which wears out faster due to overnight hours of operation.
Corporate officials say the lawsuit seeks to reduce the value of its personal property at 95 of its stores and recoup attorney fees.
County officials say their attorneys across the state are expected to coordinate their defense.
Walmart’s Littleton-based attorney Brian Huebsch declined requests for comment.AlertMe